Suncorp's general NZ business posts 21% drop in first-half profit as claims rise

Wed, 10 Feb 2016

By Paul McBeth Feb. 11 (BusinessDesk) - Suncorp Group, the ASX-listed general and life insurer whose local brands include Vero, AA Insurance and Asteron Life, posted a 21 percent drop in first-half profit from its New Zealand general insurance business as claims grew at a faster pace than premiums. The insurer's New Zealand general insurance business reported a segment profit of A$60 million in the six months ended Dec. 31 from A$76 million a year earlier, the Brisbane-based company said in a statement. In New Zealand dollar terms, the u...

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