Suncorp Group is a leading Australian financial services company that offers a wide range of products and services. It was founded in 1902 as the Queensland Government Savings Bank.
With a history spanning over a century, Suncorp Group has undergone significant transformations to become the company it is today. Suncorp Group's financial performance has been impressive, with a total income of $13.6 billion in 2020.
The company's strong financial position allows it to invest in its customers and communities. Suncorp Group's commitment to customer satisfaction is evident in its customer service ratings, which consistently rank among the best in the industry.
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Business Operations
Suncorp Group's business operations are built on a strong foundation of strategy and execution. The company's focus on digital transformation has enabled it to improve customer experiences and streamline its operations.
Suncorp's insurance business is a significant contributor to its revenue, with the company offering a range of products including home, car, and life insurance. The company's insurance business has a strong presence in Australia and New Zealand.
Suncorp has a large network of branches and agencies across Australia and New Zealand, providing customers with a convenient and accessible service.
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Industry Analytics
Suncorp Group Ltd's digital strategy is likely to involve significant investment in technology areas, according to IT Client Prospector.
The company's IT spend is a key factor in understanding their digital strategy, enabling businesses to make informed decisions about their own technology investments.
Suncorp Group Ltd has publicly disclosed IT services contracts, providing valuable insights for competitive bidding.
These contracts cover a range of areas, including IT outsourcing, business process outsourcing, systems integration, and consulting.
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Partners & Customers
Suncorp Group has a total of 10 strategic partners and customers.
Suncorp Group recently partnered with Australian Collision Industry Alliance on February 2, 2024, to boost skills in the motor repair industry. This is a two-year sponsorship deal that makes Suncorp Group the first insurance partner to support the new body.
The partnership with the Queensland Reconstruction Authority is aimed at encouraging Queenslanders to prepare for severe weather season. This partnership is part of the Get Ready Queensland Program.
OzHarvest is Australia's leading food rescue organisation, and Suncorp Bank has partnered with them to support food rescue. This partnership will help feed people in need across Australia and save what matters.
Suncorp Group has also partnered with Microsoft Azure and Microsoft as vendors.
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Where Is Based?
Suncorp Group is based in Brisbane, Queensland.
SIC Code Definition
SIC codes are a crucial part of business operations, used to classify industries and businesses for statistical purposes.
The SIC code is a four-digit number assigned to a specific industry or business. For example, Suncorp Group has SIC codes 621, 62, and 60.
Businesses use SIC codes to categorize and classify themselves, which is essential for statistical reporting and data analysis. This helps organizations make informed decisions and stay compliant with regulations.
The SIC codes for Suncorp Group, 621, 62, and 60, indicate that the company operates in the finance and insurance sector. This classification is essential for understanding the company's business operations and financial performance.
In summary, SIC codes provide a standardized way to classify businesses and industries, which is vital for statistical analysis and regulatory compliance.
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Investments and Acquisitions
Suncorp Group has a diverse range of investments and acquisitions under its belt.
The company has made 5 investments, with its latest being in Car Next Door as part of their Corporate Minority - III on November 19, 2019.
Suncorp Group acquired 4 companies, with its latest acquisition being Capital S.M.A.R.T Repairs on November 20, 2018.
Their acquisition of Capital S.M.A.R.T Repairs was valued at $XXM.
Here are the details of Suncorp Group's acquisitions:
In 2022, ANZ agreed to buy Suncorp Group's banking operations for A$4.9 billion ($3.3 billion).
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Financial Performance
The Suncorp Group's financial performance is a key aspect of its overall success. The company's annual revenue was a substantial $9 billion in 2025.
The Suncorp Group's financial data is regularly updated, with the most recent analysis available as of October 22, 2025. This information is crucial for investors and stakeholders who want to stay informed about the company's financial health.
To get a better understanding of the company's financial performance, let's take a look at some key metrics. Here are the last updated dates for some of the company's financial data:
Earnings and annual earnings are two important indicators of the company's financial health. According to the provided data, both earnings and annual earnings were last updated on June 30, 2025.
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Regulatory and Market Environment
Suncorp Group operates in a highly regulated industry, with the Australian Prudential Regulation Authority (APRA) overseeing its financial services business. This regulatory environment requires Suncorp to maintain strong risk management practices.
APRA's prudential standards ensure that Suncorp's capital adequacy, liquidity, and risk management are up to par. As a result, Suncorp has a strong capital position, with a common equity tier 1 capital ratio of 10.8% at June 2022.
Suncorp's insurance business is also subject to the Australian Securities and Investments Commission (ASIC) and the Australian Competition and Consumer Commission (ACCC) regulations.
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Australia's Economy Slumps Most Since 2009
Australia's economy has faced significant challenges in recent years, with some sectors experiencing a downturn that rivals the severity of the 2009 financial crisis. Suncorp Group Ltd., the country's largest insurer by market value, saw its stock price plummet in 2015 after warning of declining insurance margins due to storm claims and increased costs.
In 2009, Australia's general insurance business was severely impacted by storm claims, leading to a decline in margins. This trend has continued in recent years, with Suncorp's warning in 2015 being a notable example. The company's stock price fell sharply in response to the news.
Australia's bushfire season has also had a significant impact on the economy, with the 2020 season potentially surpassing the cost of the 2009 Black Saturday fires in Victoria. The estimated cost of the 2009 fires was A$4.4 billion, which is a staggering amount that highlights the economic burden of such disasters.
Australia Regulator Questions $3.3B Buyout
Australia's competition regulator expressed doubts about the benefits of ANZ's $3.3B buyout of Suncorp.
The regulator questioned whether the deal would bring public benefits, which is a crucial factor in determining whether the acquisition is approved.
In April 2023, the regulator publicly expressed its concerns, making it a significant hurdle for ANZ to clear.
The planned buyout was worth A$4.9 billion, which is approximately $3.32 billion.
This was a major deal that had been under scrutiny by financial regulators for almost two years.
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Frequently Asked Questions
Who owns Suncorp Group?
Suncorp Group was initially owned by the Queensland Government, but it was merged with Metway Bank in 1996 to create a publicly listed company. Today, Suncorp Group is a publicly listed company with shares traded on the Australian Securities Exchange.
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