Suncorp New Zealand announces FY26 Financial Result
12 August 2026
Suncorp New Zealand today announced a net profit after tax of $316 million for the 12 months ended 30 June 2026 (FY26). Gross written premium (GWP) was $2,756m, down 4.8 per cent on the prior year, reflecting softer market conditions and customer pricing responding to modest inflation and lower reinsurance costs.
Suncorp New Zealand CEO, Jimmy Higgins said: “We achieved a solid financial result in FY26 driven by disciplined underwriting, and a focus on delivering excellent service for customers, and broker partners. But this year’s result also reflects an increasing trend of more extreme and frequent weather events in New Zealand.
“Natural hazard claims were elevated this year, above Vero’s annual allowance, following a series of major storms that had a significant impact on New Zealand communities.
"With forecasters expecting a strong El Niño to develop over the coming summer, different parts of the country could face a mix of stronger winds, drier conditions and heavier rainfall. It’s a timely reminder that preparation can’t wait until the next event is on the doorstep. Building a more resilient New Zealand is vital to keeping insurance accessible and affordable for the long term,” Higgins said.
During the year, Suncorp New Zealand continued to invest in its core pricing and underwriting systems, along with new digital platforms designed to speed up claims processing and strengthen operational capability.
“Rapid innovation in areas like AI gives us the opportunity to transform how we deliver insurance and respond faster when communities need us most,” Higgins said.
“By combining technology with human expertise, we’ll help make insurance more accessible and effective for customers around the country. We’re committed to being here for Kiwis when they need us and delivering a quality experience when they do.”
More information on Suncorp Group’s financial performance is available here.
About Suncorp New Zealand
- Suncorp New Zealand includes Vero Insurance and Vero Liability, which provide intermediated services via a network of brokers and corporate relationships. It also has a joint venture direct-to-customer business AA Insurance (a joint venture between Vero Insurance and the New Zealand Automobile Association).
- Suncorp New Zealand employs over 950 people in 13 offices around the country.
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