Suncorp NZ eyes wider margins from digital integration

Wed, 10 Feb 2021

Suncorp New Zealand wants to strip out costs and widen its margins by integrating its systems more closely with the broker network selling almost half its product.The general and life insurer’s local unit – which runs the Vero Insurance, AA Insurance and AA Life joint ventures, and Asteron Life brands – yesterday reported a record net profit of $129 million in the six months ended Dec. 31, up 19.4 percent from a year earlier.The gain was largely due to wider margins, with the insurer keeping a lid on costs while growing premiu...

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