- Business
- Suncorp Group Limited (ASX:SUN) is an ASX-listed trans-Tasman insurance company headquartered in Brisbane, Queensland, Australia, with roots tracing back over 100 years to entities including the Queensland Agricultural Bank established in 1902 and formally created in 1996 through the merger of Suncorp, Metway Bank, and the Queensland Industry Development Corporation. The company operates primarily in Australia and New Zealand, serving retail, corporate, commercial, and specialty insurance customers through three key portfolios: Consumer Insurance, Commercial and Personal Injury Insurance, and Suncorp New Zealand; it offers a comprehensive range of general insurance products such as home, contents, motor, compulsory third party (CTP), life, workers compensation, commercial liability, and personal injury insurance under well-recognized brands including AAMI, GIO, Apia, Shannans, Bingle, Vero, Terri Scheer, CIL, Tyndall, InsureMyRide, AA Insurance, and Autosure. In a major strategic shift, Suncorp completed the sale of its Suncorp Bank business to ANZ Group on July 31, 2024, for A$5 billion, enabling it to transition into a pure-play insurer focused on simplified operations, enhanced digital and data capabilities, and growth across its insurance portfolios; additionally, it finalized the divestiture of its New Zealand life insurance unit Asteron Life to Resolution Life for NZ$410 million on January 31, 2025, while retaining its New Zealand general insurance operations, and announced a partnership with Duck Creek Technologies to modernize legacy systems and a July 2025 collaboration investing $3 million to bolster Queensland's disaster preparedness.