UPDATE: Suncorp NZ earnings boosted by new migrants in need of car, home insurance

Thu, 04 Aug 2016

(Recasts to reflect comments from NZ CEO) By Paul McBeth Aug. 4 (BusinessDesk) - Suncorp Group's New Zealand businesses were buoyed by the country's record net inflow of migrants, whose need for car and house cover helped lift the insurer's annual earnings. The Australian firm's Vero and AA Insurance general insurance brands boosted motor gross written premium (GWP) 11 percent to A$290 million and home GWP 5.9 percent to A$392 million in the 12 months ended June 30. Suncorp New Zealand chief executive Paul Smeaton said the country's s...

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