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Suncorp: Posts 39.5pc increase in cash earnings for H1 FY21

February 8, 2021

Banking and insurance giant Suncorp (SUN) has recorded $509 million in cash earnings for the first half of the 2021 financial year
This 39.5 per cent increase driven by higher earnings and a stronger alignment across its divisions
The Insurance (Australia) division saw an increase of 109.8 per cent in profit after tax
Similarly, its New Zealand and Banking and Wealth divisions recorded a 19.4 per cent and 11.1 per cent growth, respectively
Due to there being12 hazardous events across Australia and New Zealand during the period, Suncorp went over its allowance by $86 million to $561 million
Suncorp is up 3.16 per cent and shares are trading at $10.77