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macroJul 2, 2026, 10:53 PM

Suncorp Group Expects Higher FY27 Reinsurance Costs, Affirms Catastrophe Cover Details

Suncorp Group forecasts FY27 reinsurance costs above FY26 levels, maintains a A$350M event retention and caps natural hazard costs at A$1.85B in about 90% of scenarios. FY26 investment income is seen at A$750M–A$800M, with natural hazard costs A$250M above allowance. CEO Steve Johnston returns July 6.

SUN

Suncorp Group has released guidance indicating that its FY27 reinsurance costs are expected to be higher than in FY26. The company will maintain a A$350 million event retention for its FY27 catastrophe cover, and natural hazard costs will be capped at A$1.85 billion in approximately 90% of modeled scenarios.

For FY26, Suncorp projects investment income in the range of A$750 million to A$800 million, while natural hazard costs are expected to be A$250 million above allowance.

Separately, the company confirmed that CEO Steve Johnston will return from medical leave on July 6, with acting CEO Jeremy Robson transitioning back to his role as CFO.

Source: First Squawk