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
How much longer will Star Entertainment stay afloat? How big of a reprieve will the $60m fire sale of its events centre be?
How much longer will Star Entertainment stay afloat? By now it seems a fait accompli that Star Entertainment (ASX:SGR) will…
DGL Group (ASX:DGL): Will 2025 be better for DGL and its investors?
Poor DGL Group (ASX:DGL). It was a company that ran hard for several months in 2021, but has substantially retreated…
Trump’s AI Revolution? How DeepSeek and Stargate Could Shape the Next Big Tech War
A new tech cold war may be about to emerge with Trump taking the lead role. The tech world alerted…
Fortescue is buying Red Hawk Mining (ASX:RHK) for A$254m: Are its green energy ambitions dead?
Yesterday, Fortescue (ASX:FMG) announced it was buying a neighbouring iron ore player – Red Hawk Mining (ASX:RHK). All about…
What stocks do politicians invest in? Here’s how you can find out where they’ve put their cash!
What stocks do politicians invest in? Is it possible to know? Can politicians own shares at all? Yes and yes…
DeepSeek’s AI Breakthrough: Do we still need Nvidia as much in 2025?
Has Nvidia met its match in DeepSeek? Investors seem to think so given the Tech crash early this week. After…
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.