Message from the CEO and Managing Director FY26
Steve Johnston
Chief Executive Officer
12 August 2026
Dear Shareholder,
The outcomes Suncorp has delivered over the 2026 financial year highlight the strength of our foundations, the resilience and capability we’ve built as a dedicated general insurer, and the significance of our teams being bound by our purpose of building futures and protecting what matters. Our results reflect the important role we play in our communities, and ability to deliver shared value for our people, customers and shareholders.
Our multi-year program to simplify our business and align all of our people behind improving the quality of the insurance products and services we provide, while investing in our core technology infrastructure, has positioned us well to create ongoing value. We are making good progress in building on these foundations to modernise our platforms and transform the way we operate to meet both the current and future insurance needs of our customers and communities across Australia and New Zealand. Importantly, we have also strengthened the resilience of our business through enhancements to our reinsurance program, providing additional protection through periods of elevated natural hazards.
This year, Suncorp responded to 18 declared natural hazard events across Australia and New Zealand, supporting customers through more than 120,000 natural hazard claims. The $2 billion cost of these natural hazard claims forms part of the $10 billion we have spent supporting customers’ claims.
Having visited customers impacted by the storms across south-east Queensland in October and November, I was yet again reminded that the toll these events take on our customers extend far beyond dollars and cents. This is why we continue to throw our full support behind our customers in their most difficult moments and push for greater focus and investment in prevention and resilience measures that help protect people and communities.
Our financial performance
Suncorp delivered net profit after tax of $1,027 million and cash earnings of $1,042 million. Underlying earnings increased 4.5%, while our underlying insurance trading ratio of 11.8% was maintained at the top end of our 10%-12% target range. Gross written premium increased 2.7% at an aggregate level.
Growth in our consumer business reflects the strength of our brands and the value customers place on our products. Suncorp Group’s Net Promoter Score across our Australian consumer business increased to +11.7, up from +9.1 in FY25, as we continued to uplift the customer experience. Importantly, we have continued to leverage our pricing and risk selection capabilities to improve the portfolio quality and growth in lower-risk segments.
In New Zealand, direct AA Insurance grew across home and motor, while the intermediated business was affected by softer commercial market conditions and a weaker economic backdrop.
Investment yields remained strong at around 5%, while reported profit was impacted by lower investment income due to mark-to-market movements. This was partly offset by stronger-than-expected reserve releases, particularly across Commercial and Personal Injury.
Skills for the future
Looking ahead
Looking ahead, Suncorp has a unique opportunity to help reshape the future of insurance, made possible through our strong capital position and targeted strategic investments in platform modernisation and operational transformation, which we will continue to work at pace to deliver throughout FY27.
We are well placed to leverage these investments to create more contemporary products, deliver more personalised customer experiences, increase seamless digital self service and use AI at scale to transform customer and claims journeys. We see these outcomes as fundamental to making meaningful progress in our long-term efforts to improve the affordability and accessibility of insurance for all Australians and New Zealanders.
Changes to our executive leadership team, announced alongside our FY26 results, are designed to support the next phase of our strategy.
I thank our Board and executive leadership team for their ongoing support, particularly while I took some medical leave earlier this year.
As always, I sincerely thank Suncorp’s team members for living our purpose and making a real difference for our customers and stakeholders.
Finally, thank you to our valued shareholders for your continued confidence in Suncorp and our future.
Suncorp CEO and Managing Director
Steve Johnston