Suncorp's NZ insurance unit lifts 1H profit 81% as claims dwindle in quake-free period

Wed, 14 Feb 2018

By Paul McBeth Feb. 15 (BusinessDesk) - Suncorp Group's New Zealand insurance division lifted first-half profit 81 percent as the Australian owner of Vero Insurance faced fewer claims in a period when there were no major earthquakes. After-tax profit rose to $67 million in the six months ended Dec. 31 from $37 million a year earlier, Brisbane-based Suncorp said in a statement to the ASX. The bulk of that came from the general insurance division, which consists of Vero and the AA Insurance joint venture, which more than doubled profit to...

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