Suncorp New Zealand announces HY26 Financial Result
18 February 2026
Suncorp New Zealand today released its financial results for the six months to 31 December 2025, reporting a net profit after tax of $221 million and gross written premium (GWP) of $1,412 million, down 5.6% on the prior comparable period (PCP).
Suncorp New Zealand CEO Jimmy Higgins said the result was driven by a combination of operational discipline and the continued easing of inflationary pressures on input costs, including construction materials and vehicle parts.
“The first six months of the 2026 financial year saw greater stability in both inflation and the global reinsurance market. Together, these factors have contributed to the company’s solid financial performance and enabled us to continue to focus on better serving customers.”
Mr Higgins said Suncorp New Zealand also supported Kiwis through several major weather events across the country during the first half of the financial year and in January 2026.
“We’re committed to being there for customers around the country in the moments that matter, processing and paying claims quickly so they can get back on their feet after periods of disruption.”
Mr Higgins acknowledged that households and businesses continue to face cost-of-living pressures.
“We know many New Zealanders are concerned about affordability, and we’re committed to keeping insurance accessible over the long term. This country has a well-established and competitive insurance market, which plays an important role in creating choice and value for customers. Over recent months, many policy holders have faced either a reduction in premiums or significantly lower increases than we’ve seen in the past few years, which will help to ease pressure on budgets”
Beyond the headline financial result, Mr Higgins said Suncorp New Zealand had strengthened the foundations of the business through the first half.
“We are investing heavily to modernise our core IT systems so we can better serve customers and brokers,” he said. “These efforts will help improve service, speed up claims and lay the foundations for sustainable growth over time.”
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).
- Suncorp New Zealand employs over 950 people in 13 offices around the country.
The information in this article has been compiled from various sources and is intended to be factual information only. It is not personal advice and any description of an insurance product or service is not a complete description of all the terms and conditions applicable to the particular insurance product or service. You should consult a qualified adviser for advice on whether the information in this article is suitable for your personal situation and needs. While we take reasonable steps to ensure that the information contained in this article is accurate and up-to-date, it is subject to change without notice. Suncorp New Zealand and its related companies does/do not accept any responsibility or liability in connection with your use of or reliance on this article.
