Suncorp CEO says insurer is still in ‘healthy position’ despite 30% profit fall

Suncorp NZ chief executive Jimmy Higgins says the company is weathering the weather. (Image: Suncorp)

Wed, 09 Aug 2023

Despite Suncorp New Zealand’s full-year net profit for 2023 falling by a third due to extreme weather events, its chief executive says the insurer is still in a “healthy position”.Suncorp NZ’s net profit for the 12 months ended June 30 fell by 30.3% to $115 million versus $165m in the prior period.General insurance profit after tax sank 56.7% to $65m, also due to the North Island severe weather events.Suncorp NZ chief executive Jimmy Higgins attributed the profit plunge to the impact of natural hazards in the insurer&rsq...

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