Suncorp's NZ general insurance lifts earnings 12%, still focused on costs

Thu, 04 Aug 2016

By Paul McBeth Aug. 4 (BusinessDesk) - Suncorp Group's New Zealand general insurance units Vero and AA Insurance lifted annual earnings as they benefitted from growth in more profitable motor business, although the local group is still focused on stripping out costs. The NZ insurance business's profit rose 12 percent to $178 million on a 3.2 percent increase in gross written premium (GWP) to $1.34 billion in the 12 months ended June 30, Suncorp said in a statement to the ASX. The Vero and AA Insurance divisions lifted motor GWP 11 percen...

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