Suncorp Group Limited (ASX: SUN)
Company Information Suncorp Group Limited (ASX: SUN) Suncorp Group Limited is an Australia-based company engaged in the Trans-Tasman insurance business. The Company’s segments include Consumer Insurance, Commercial & Personal Injury, Suncorp New Zealand, and Corporate. The Consumer Insurance segment is engaged in the provision of insurance products to customers in Australia, including home…
ANZ Finalizes Suncorp Bank Takeover
ANZ shares (ASX: ANZ) have bounced of the $28.50 support level and gained again today, climbing 0.65%, to close at $29.24 on the back of the successful acquisition of Suncorp Group Ltd’s (ASX: SUN) banking operations. YTD gains now tally 12.5% for the stock, as it trades close to 52 week highs. The acquistion which…
ACCC begins ANZ, Suncorp merger authorisation review
The ACCC today commenced its formal consideration of ANZ Banking Group’s proposed acquisition of the banking arm of Suncorp. The ACCC received the merger authorisation application on Friday 2 December. The transaction will be reviewed in line with the ACCC’s merger authorisation process. “Now that we have received the application, we are able to commence the…
Will ANZ’s takeover of Suncorp reduce bank competition?
Australia has one of the world’s most concentrated banking sectors, with its four biggest banks – Commonwealth Bank, National Australia Bank, Westpac and ANZ – holding more than about three-quarters of the market. It will become even more concentrated if ANZ – the “minnow” of the big four – completes its plan to buy the…
Macquarie, Suncorp earnings help lift ASX
SYDNEY, AAP – Investors have raised some major financial services providers following their earnings as the big share categories lifted the Australian market. Macquarie Group and Suncorp pleased investors on Tuesday and the market rose more than one per cent with help from financials, miners and healthcare. Macquarie claimed a record third quarter, helped by…
Suncorp peppered by disaster claims
SYDNEY, AAP – Financial services group Suncorp has posted a near 21 per cent fall in first-half net profit in the wake of higher insurance claims from natural disasters and lower returns on its investments. But the Queensland-based entity says its underlying business is strong, putting it in a “good” position in the second half…
Suncorp payout, buyback delight investors
SYDNEY, AAP – Insurer Suncorp has improved full-year cash earnings by 42 per cent, and delighted shareholders with a special dividend and on-market buyback. The company behind brands including AAMI and GIO on Monday said gains at its insurance and banking operations helped earnings climb to $1.06 billion. Its insurance division recorded its best improvement…
Big bank bosses vague on Suncorp interest
CANBERRA, AAP – The heads of Australia’s two largest banks are more than happy to talk about how they are assisting customers who may still be suffering hardship after last year’s recession. But when it comes to whether they have any interest extending their operations, they are far less forthcoming. Reports last month suggested Suncorp…