Suncorp New Zealand announces FY25 Financial Result
14 August 2025
Suncorp New Zealand today announced its financial results for the year ended 30 June 2025, reporting a net profit after tax of $419 million. The company’s gross written premium (GWP) was $2,896 million, up 1.3% on the year before.
Suncorp New Zealand CEO Jimmy Higgins said the result reflected the execution of the company’s strategic and operational priorities.
“In FY25 we continued to simplify our organisation and focus on what matters most – supporting our customers. Over the past year we have paid around $1.2 billion in claims, while investing in people and technology to make Suncorp a stronger, and more efficient business.
“A range of factors contributed to this year’s net profit, including the earn-through impact of previous years’ pricing changes, lower reinsurance costs and a relatively benign natural hazard environment. This follows a period of lower profitability after major weather events including the Auckland floods and Cyclone Gabrielle.”
Higgins acknowledged the pressures faced by customers in the current environment.
“We know many households and small businesses are doing it tough and have faced higher costs over recent years, including for insurance. It’s encouraging to see premiums beginning to moderate overall, and in some cases reduce, as supply chain inflation eases and reinsurance markets stabilise. Industry data shows levies and taxes now account for around 43% of home insurance premiums, which has a significant impact on their affordability,” Higgins added.
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. It also has a joint venture direct-to-customer business AA Insurance (a joint venture between Suncorp New Zealand and the New Zealand Automobile Association).
- On 31 January 2025, Suncorp New Zealand completed the sale of Asteron Life Limited to Resolution Life NOHC.
- Suncorp New Zealand employs over 950 people in 13 offices around the country.
- During FY25, Suncorp New Zealand raised over $412,000 for cancer research through its Spirit to Cure initiative, supporting Leukaemia & Blood Cancer New Zealand and the Cancer Research Trust NZ.
Media enquiries: Nicole Hillis media@suncorp.co.nz
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