Suncorp Group Ltd
(ASX: SUN) Share Price and News

Key Statistics

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

custodian trades

Custodian trades: Here’s why it wasn’t really JP Morgan, HSBC or CBA that risked their money on your stock

Custodian trades are trades that make it appear like a major bank has bought or sold your company, but it…

ross stores

Ross Stores (NDQ:ROST): US$20bn in revenues from serving America’s depraved working class

Ross Stores (NDQ:ROST) is an S&P 500 company that is well and truly for the working class, being America’s largest…

ASX IPOs that bounced back

6 ASX IPOs that bounced back with a vengeance after a nuanced debut

The list of ASX IPOs that bounced back is nowhere near as long as the list of IPOs that flopped…

Are CBA shares overvalued

Are CBA shares overvalued? Here’s 4 arguments why they are, 4 reasons why they aren’t and our judgement

Are CBA shares overvalued? This is a hotly contested question and arguably the closest thing we’ve had in Australia to…

ASX stocks with huge potential

Here are 5 ASX stocks with huge potential…if only they could get their act together

There are plenty of ASX stocks with huge potential, but very few end up realising it. For some, it is…

Dominos Pizza Enterprises

Dominos Pizza Enterprises (ASX:DMP): Will it remain in the doldrums in FY25?

Dominos Pizza Enterprises (ASX:DMP) is stuck in a difficult position. Its share price is barely a quarter of its 2021…

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.

Related Companies