Onerous contract

An insurance contract where the fulfilment cashflows allocated to the contract, and any previously recognised acquisition cash flows and any cashflow arising from the contract at the date of initial recognition in total are a net outflow

Operating expenses ratio

Operating expenses expressed as a percentage of net insurance revenue

Operating functions

The Suncorp Group comprises four businesses— Consumer Insurance, Commercial & Personal Injury Insurance, Suncorp New Zealand and Suncorp Bank. The operating functions are responsible for product design, manufacturing, claims management, and distribution. The core businesses have end-to-end responsibility for the statutory entities within the Suncorp Group