Suncorp Group Ltd
(ASX: SUN) Share Price and News
Introduction to Suncorp (ASX:SUN)
Suncorp Group is a banking and financial services entity in Australia and New Zealand. It is the 6th largest bank in Australia, only behind the so-called Big Four and Macquarie. It offers retail banking services under the Suncorp brand as well as several insurance brands including AAMI, GIO and Vero.
Suncorp's History
Suncorp's origins trace back to the early 1900s with the Queensland Agricultural Bank. In 1996, it was merged with Metway to form Suncorp. The Queensland government cashed out its 68% over the next few years.
It got into insurance substantially in the early 2000s, starting with AMP's general insurance interests. 2007 saw it buy Promina Group, a company that owned several brands including AAMI and GIO. 2022 saw it announce plans to sell its banking business and become a pure-play insurer. After nearly 2 years of battling competition regulators, the deal was approved in early 2024.
Future Outlook of Suncorp (ASX: SUN)
Suncorp is a better company for getting out of banking and focusing on insurance. Stocks like QBE (ASX:QBE) show that insurers can be good long-term investments.
Nonetheless, it has more risk than other insurers being exposed to the natural disaster-prone Queensland market.
Is Suncorp a Good Stock to Buy?
Considering Suncorp Group as an investment option reveals a complex picture. As noted above, getting out of banking was a good move, but it carries more risk than other insurers. Investors wanting exposure to insurers would be better off with companies like QBE with a more diversified exposure.
Our Stock Analysis
Should You Buy Tesla Shares Before April 2?
As the stock market continues to attract investors with fluctuating trends, one of the most frequently discussed companies is Tesla.…
Top 3 AI Stocks to Invest in for Long-Term Growth
Artificial Intelligence is no longer a speculative technology of the future, it’s the defining driver of modern business. From predictive…
The Australian Federal Budget 2025: Which Sectors Will Win and Which Will Lose?
The 2025 Federal Budget has been released, sparking conversations across boardrooms, households, and political circles. Described as a “budget for…
Here’s what you need to know about dual class shares and why the ASX still bans them in 2025
If you want to invest in the world’s biggest tech companies, you need to know about Dual class shares. Even…
How to judge if a stock is undervalued? Here are 6 potentially useful ways
How to judge if a stock is undervalued? Here are 6 ways to tell! 1. If a stock is trading…
Qoria (ASX:QOR) Just Secured an Ohio Education Deal! Could Trump’s Policies Give It a Nationwide Boost?
In a market where investors are shunning most stocks except those that might benefit from US President Donald Trump’s radical…
Frequently Asked Questions
Suncorp Group is a leading financial conglomerate in Australia and New Zealand, offering diverse services including insurance, banking, and wealth management. Founded in 1996, it's known for its strong market presence and commitment to customer service and community engagement.