Suncorp Guides FY27 Gross Written Premium Growth to About 3% After $125 Million Contract Loss

Australian insurer Suncorp Group Ltd. (SNMCY, SUN.AX) said Thursday it expects gross written premium growth of about 3% in fiscal 2027, citing the loss of a single large commercial contract and continued weakness in the New Zealand dollar. The contract loss will cut fiscal 2027 gross written premiums by $125 million, with the full impact landing in the first half and pushing growth toward the second half of the year. A weaker New Zealand dollar is expected to trim growth by roughly 70 basis points when translated into Australian dollars. Suncorp said there was no other change to its fiscal 2027 outlook, and its underlying insurance trading ratio margin is still expected to remain in the top half of its 10% to 12% target range. Shares fell 1.16% to A$19.53 on the ASX.