Suncorp Group (SUN) AGM 2025 summary

Opening remarks and agenda

• The meeting opened with a Welcome to Country and acknowledgment of traditional custodians, followed by an outline of meeting procedures and voting protocols for both in-person and online attendees.

• The Chairman introduced the board, executive team, and outlined the agenda, including financial performance, board renewal, and strategic direction.

Financial performance review

• Net profit after tax reached AUD 1.8 billion, supported by one-off profits from the sale of Suncorp Bank and New Zealand Life, and strong investment income.

• Cash earnings were nearly AUD 1.5 billion, with gross written premium for general insurance up 6.3% year-on-year.

• Natural hazard claims costs were AUD 205 million below allowance, aided by the Cyclone Reinsurance Pool.

• A fully franked final ordinary dividend of AUD 0.49 per share was paid, and a special dividend plus capital return followed the bank sale.

• An on-market share buyback of up to AUD 400 million was announced, reflecting a robust capital position.

Board and executive committee updates

• Duncan West was confirmed as incoming Chairman, succeeding Christine McLoughlin.

• Board renewal continued with the election of David Whiting and re-elections of Ian Hammond and Sally Herman.

• The board composition and skills were discussed, with a commitment to diversity and ongoing renewal.