ASX-listed Suncorp more than triples annual profit in New Zealand post-quake

Wed, 21 Aug 2013

By Pam Graham Aug. 21 (BusinessDesk) – Suncorp Group, the owner of Vero New Zealand, has reported a 264 percent increase in New Zealand earnings in the wake of the Christchurch earthquakes and is optimistic of more as the economy recovers. The ASX-listed firm reported a NZ$91 million general insurance trading result in the year ended June 30 in New Zealand where it owns Vero, up from NZ$25 million the previous year. In Australian dollar terms, the result for New Zealand was up 311 percent. Suncorp said policy rate increases in response to h...

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