ASX:SUN

Correction: ASX Biggest Gainers

(Corrects to remove PDI Gold from the list)Here are the ASX-listed companies with the biggest gains on Friday.Metrics Master (ASX:MXT): +3%, AU$1.82AUB Group (ASX:AUB): +3%, AU$27.81Ingenia Communities (ASX:INA): +3%, AU$3.97Suncorp Group (ASX:SUN): +3%, AU$19.43Challenger (ASX:CGF): +3%, AU$10.19Cobram Estate Olives (ASX:CBO): +2%, AU$2.84Viva Energy Group (ASX:VEA): +2%, AU$3.03Elders (ASX:ELD): +2%, AU$6.38Brambles (ASX:BXB): +2%, AU$18.58

ASX Biggest Gainers

Here are the ASX-listed companies with the biggest gains on Friday.PDI Gold (ASX:PDI): +7%, AU$4.67Metrics Master (ASX:MXT): +3%, AU$1.82AUB Group (ASX:AUB): +3%, AU$27.81Ingenia Communities (ASX:INA): +3%, AU$3.97Suncorp Group (ASX:SUN): +3%, AU$19.43Challenger (ASX:CGF): +3%, AU$10.19Cobram Estate Olives (ASX:CBO): +2%, AU$2.84Viva Energy Group (ASX:VEA): +2%, AU$3.03Elders (ASX:ELD): +2%, AU$6.38Brambles (ASX:BXB): +2%, AU$18.58

Suncorp's Vero Launches Pay-per-Kilometer Rideshare Insurance in Australia

Suncorp Group (ASX:SUN) said Tuesday that Vero, part of Suncorp, partnered with Uber and Cover Genius to launch pay-per-kilometer rideshare insurance in Australia for eligible driver-partners.The company said in a statement that the new product option covers driver-partners during both rideshare trips and private use. The policy includes cover for vehicle damage, theft, or loss of the vehicle.Eligible drivers can apply for the insurance directly through the Uber Driver app, it added.Its shares fell nearly 1% in recent trading on Tuesday.

Update: Market Chatter: Tokio Marine Eyes Large Acquisition; Australia's Suncorp Likely Target

(Updates to include Tokio Marine's response to a request for comment.)Tokio Marine Holdings (TYO:8766) is zeroing in on a sizable acquisition following a period of due diligence, with Australia-based Suncorp Group (ASX:SUN) arising as the most likely target, the Financial Times reported on Tuesday, citing two people with direct knowledge of the matter.The sources cautioned that the parties are continuing discussions and have not finalized a deal, the report said.The Japan-based financial services company, which has backing from Berkshire Hathaway, has scouted several acquisition prospects for the past months, including Insurance Australia Group (ASX:IAG), Suncorp and Canada-based Intact Financial, the report said.Tokio Marine, in response to, declined to comment on the matter.Meanwhile, Suncorp Group, Insurance Australia Group and Intact Financial did not immediately respond to' requests for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Market Chatter: Tokio Marine Eyes Large Acquisition; Australia's Suncorp Likely Target

Tokio Marine Holdings (TYO:8766) is zeroing in on a sizable acquisition following a period of due diligence, with Australia-based Suncorp Group (ASX:SUN) arising as the most likely target, the Financial Times reported on Tuesday, citing two people with direct knowledge of the matter.The sources cautioned that the parties are continuing discussions and have not finalized a deal, the report said.The Japan-based financial services company, which has backing from Berkshire Hathaway, has scouted several acquisition prospects for the past months, including Insurance Australia Group (ASX:IAG), Suncorp and Canada-based Intact Financial, the report said.Tokio Marine, Suncorp Group, Insurance Australia Group and Intact Financial did not immediately respond to' requests for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Insurance Council of New Zealand Encourages Sector to Consider Financial Markets Authority Review in Push for Fair Customer Outcomes

The Insurance Council of New Zealand (ICNZ) on Friday encouraged insurers to consider the findings of a Financial Markets Authority review as they work to achieve fair customer outcomes.The review of add-on insurance and extended warranties, published Thursday, found that that stronger oversight of sales and distribution channels is required to support fair outcomes.ICNZ said it "supports initiatives that help ensure consumers receive clear information, can make informed decisions, and have confidence that insurance products meet their needs."The review examined how insurers design, distribute and oversee a range of products and found a recurring gap between the policies and controls insurers described and how they operated in practice.In recent Friday trade in Australia, shares of QBE Insurance Group (ASX:QBE), Insurance Australia Group (ASX:IAG), and Suncorp Group (ASX:SUN) all rose past 1%, while Tower (ASX:TWR, NZE:TWR) shed over 1%.

New Zealand Financial Markets Authority Flags Gaps in Add-On Insurance Sales Oversight

New Zealand's Financial Markets Authority (FMA) said it has published a review of add-on insurance and extended warranties, finding that stronger oversight of sales and distribution channels is needed to support fair consumer outcomes, according to a Thursday statement.The review examined how insurers design, distribute and oversee products such as mechanical breakdown insurance, guaranteed asset protection (GAP) insurance, payment protection insurance and extended warranties, finding a recurring gap between the policies and controls insurers described and how they operated in practice, per the statement.FMA director Michael Hewes said insurers cannot outsource responsibility for fair consumer outcomes, with distribution oversight identified as the area where the most improvement is needed, as the review found limited evidence of monitoring proportional to the risks associated with commission-based and intermediated sales models.The FMA has provided targeted feedback to participating insurers and expects the wider sector to consider the findings and consider whether similar issues exist in their own operations.In recent Thursday trade on the Australian bourse, QBE Insurance (ASX:QBE) fell 4%, Insurance Australia Group (ASX:IAG) fell almost 3%, and Suncorp (ASX:SUN) fell almost 3%, while Tower (ASX:TWR, NZE:TWR) rose 1%.

Investigation Finds Potential Widespread Mortgage Fraud, AUSTRAC Says

An investigation called Operation Claw uncovered potential mortgage fraud involving inflated incomes, misrepresented employment and fabricated or unverifiable business activity used to support loan applications, the Australian Transaction Reports and Analysis Center (AUSTRAC) said in a Wednesday statement.AUSTRAC's Fintel Alliance conducted a joint analysis of data from 10 major Australian banks, identifying potentially hundreds of millions of dollars in suspected fraudulent loans, mostly linked to properties in Sydney in New South Wales.The activity was not limited to one lender or borrower group, and recurring warning signs across the participating banks included falsified or misleading documents as well as the repeated use of mortgage brokers, accountants, and law firms across multiple loan applications.AUSTRAC worked with participating banks to identify controls that lenders can use to prevent, detect, and disrupt mortgage fraud. The lenders used the information generated through the investigation to identify potentially fraudulent loans, investigate suspicious activity, strengthen controls, and make further referrals to the authorities. Some banking relationships have been ended, and further action is expected."The same warning signs were found across banks that together cover the vast majority of Australia's mortgage market," AUSTRAC CEO Brendan Thomas said. "Every lender should be looking closely at these findings and asking whether the same vulnerabilities exist in their own business," he added.The Australian Banking Association did not immediately respond to a request for comments from.

ANZ Group Expected to Outperform on Asset Quality in Case of Credit Cycle, Jarden Says

ANZ Group Holdings (ASX:ANZ) is expected to materially outperform on asset quality if a credit cycle happens, Jarden said in a Thursday note.It logged AU$1.901 billion in cash profit for fiscal Q3, up 2% from a year ago. For the three months ended June 30, operating income was AU$5.607 billion, down 1%.The bank is on track to integrate Suncorp (ASX:SUN), reduce duplication, and simplify its organization, with an increased fiscal 2026 gross cost-out target of AU$875 million while defending and leveraging leadership in institutional and New Zealand banking.The investment firm maintained an overweight rating on ANZ while keeping the price target at AU$35.50.

Australian Shares Fall; CBA Fiscal H2 Cash Earnings, Total Net Operating Income Up

Australian shares fell on Wednesday, led downwards by the financial sector, as investors await US consumer price index data for a signal on a potential Federal Reserve rate hike.The S&P/ASX 200 Index rose 0.45%, or by 41.20 points, to close at 9,209.40.Brent crude futures ​rose to trade around $89 per barrel. The US military said it had disabled the steering gear of a cargo ship attempting to violate a blockade of Iranian ports.Spot gold rose nearly 0.5% to $4,387.03 per ounce.Overnight on Wall Street, the S&P 500 and the Dow Jones Industrial Average each fell 0.3%, while the Nasdaq Composite declined 0.6%.On the domestic front, the volume of job ads in Australia declined 0.4% in July from the previous month, driven mainly by weaker demand in New South Wales, according to a Seek employment report.In company news, Commonwealth Bank of Australia (ASX:CBA) logged AU$3.307 in cash earnings per share for the fiscal second-half, compared with AU$3.252 a year ago. For the six months ended June 30, total net operating income was AU$15.15 billion versus AU$15 billion previously.Suncorp Group (ASX:SUN) logged AU$0.7039 per share in cash earnings for the second half of fiscal 2026, compared with AU$0.5752 a year ago. For the six months ended June 30, gross written premium was AU$7.72 billion versus AU$7.52 billion previously.Lastly, AGL Energy (ASX:AGL) logged AU$0.937 in underlying earnings per diluted share for fiscal 2026, compared with AU$0.952 a year ago. For the 12 months ended June 30, revenue was AU$13.59 billion versus AU$14.34 billion previously.

Suncorp Group's New Reinsurance Structure Should Cut Hazard-Induced Earnings Volatility, Jefferies Says

Suncorp Group's (ASX:SUN) fiscal 2026 results were weaker in comparison with the previous year due to known natural hazards in the fiscal first half, but the company's new five-year reinsurance structure starting in fiscal 2027 should cut hazard-induced earnings volatility, Jefferies said in a Wednesday note.The company reported fiscal 2026 natural hazards costs of AU$2.02 billion, against an allowance of AU$1.77 billion, across 32 weather events.Hail impacts in late 2025 in Queensland and New South Wales cost AU$350 million alone, limited by reinsurance cover, the equity research firm said.The company's "capital Management looks good" as it is now targeting an annual share buyback program of up to AU$250 million on top of the AU$400 million buyback completed in fiscal 2026, Jefferies said.The investment firm maintained a hold rating on Suncorp with a price target of AU$19.75.Suncorp Group shares rose nearly 3% in recent Wednesday trade.

Suncorp Group to Replace KPMG with Ernst & Young as External Auditor, Shares Up 4%

Suncorp Group (ASX:SUN) confirmed Ernst & Young as the preferred firm to be appointed as the group's external auditor for the 2027 financial year onwards, replacing its current auditor KPMG, according to a Wednesday Australian bourse filing.The appointment is subject to the Australian Securities and Investments Commission's approval, the completion of a fit and proper assessment, and shareholder approval.The insurer's shares climbed past 4% in recent trading on Wednesday.

ASX Preview: Australian Shares to Fall as Gold Slips Ahead of US Inflation Data; Commonwealth Bank of Australia Fiscal H2 Cash Earnings, Total Net Operating Income Up

Australian shares are poised to fall on Wednesday, tracking a softer gold price as investors await key US inflation data that could shape expectations for the Federal Reserve's policy path.Overnight, the S&P 500 and the Dow Jones Industrial Average each fell 0.3%, while the Nasdaq Composite declined 0.6%.In the macroeconomy, investors are eyeing Reserve Bank of Australia Assistant Governor Christopher Kent's speech on Thursday.In corporate news, Commonwealth Bank of Australia (ASX:CBA) reported Wednesday fiscal second-half cash earnings of AU$3.307 per share on total net operating income of AU$15.15 billion, compared with cash earnings of AU$3.252 on total net operating income of AU$15 billion a year earlier.Suncorp Group (ASX:SUN) reported Wednesday fiscal second-half cash earnings of AU$0.7039 per share on gross written premium of AU$7.72 billion, compared with cash earnings of AU$0.5752 on gross written premium of AU$7.52 billion a year earlier.Australia's benchmark index rose 0.2%, or 18 points, to close at 9,250.60 on Tuesday.

Suncorp Group Appoints Chief Executive Customer, Brand, Digital

Suncorp Group (ASX:SUN) has appointed current chief risk officer Bridget Messer to the newly created role of chief executive customer, brand and digital, according to a Wednesday Australian bourse filing.Michelle Bain, currently executive general manager of compulsory third-party insurance, will take on the role of chief risk officer, per the filing.Michael Miller and Lisa Harrison will swap chief executive roles, with Miller moving to consumer insurance and Harrison taking over commercial and personal injury, the filing said.The changes will take effect on Aug. 17, subject to the necessary regulatory approvals, the filing added.

Suncorp Group Fiscal H2 Cash Earnings, Gross Written Premium Rise

Suncorp Group (ASX:SUN) logged AU$0.7039 per share in cash earnings for the second half of fiscal 2026, compared with AU$0.5752 a year ago, a Wednesday filing showed.Analysts polled by FactSet expected AU$0.68.For the six months ended June 30, gross written premium was AU$7.72 billion versus AU$7.52 billion previously, the Australia-listed general insurance company added.Analysts polled by FactSet expected AU$7.73 billion.The board declared a final ordinary dividend of AU$0.52 per share, up from AU$0.49 a year earlier, and a special dividend of AU$0.10 per share. Both dividends are payable Sept. 22 to shareholders on record as of Aug. 18.The company expects fiscal 2027 gross written premium growth of 3% to 5% as it also targets an annual share buyback program of up to AU$250 million.

Suncorp Group Posts Fiscal H2 Cash EPS of AU$0.7039, Gross Written Premium of AU$7.72 Billion

Suncorp Group Posts Fiscal 2026 Cash EPS of AU$0.9633, Gross Written Premium of AU$15.41 Billion

Australian Car Insurers Failing to Properly Explain Rising Premiums to Consumers, ASIC Finds

Car insurers in Australia are failing to properly explain the factors that are driving sharp and repeated premium increases for consumers who are already facing cost-of-living pressures while also failing to highlight savings opportunities, the Australian Securities and Investments Commission (ASIC) said in a Tuesday report.Motor vehicle insurance premiums increased 8% in the 12 months to July 2025 following growth of more than 42% between 2019 and 2024, the regulator said after examining eight insurance brands across five insurers, representing around 72% of the market.Insurers involved in the review included Suncorp Group (ASX:SUN) unit AAI, Insurance Australia Group (ASX:IAG), Allianz Australia Insurance, RAC Insurance, and Youi."Most insurers gave only generic explanations in supplementary documents, with some providing no explanations at all," said ASIC Commissioner Alan Kirkland. "This fails to meet the needs of customers trying to understand the reasons for significant price increases."The ASIC also found that in cases where insurers charged more for paying in installments, they did not clearly explain in renewal notices that consumers could save up to 20% by paying annually. The regulator called on insurers to improve renewal and quote documents so premium information is clearer, more useful and easier to compare."There is no excuse why some insurers cannot communicate such a basic benefit to customers," Kirkland said.In response to a query from, an Insurance Council of Australia spokesperson said the industry "is exploring options to explain premiums more clearly to customers, and is looking forward to engaging with the government on the premium transparency process announced in the budget."Premiums in Australia have been under pressure due to various factors including rising extreme weather costs, insurance-linked taxes, and rising repair and vehicle parts costs, the spokesperson said.Shares of Suncorp Group and Insurance Australia Group both fell nearly 2% in recent Tuesday trade.

Outlook for Australian General Insurers to Remain Driven by Moderating Premium Growth, Jefferies Says

The outlook for the Australian general insurers will remain driven by moderating premium growth, while share prices will likely reflect the sector's defensive characteristics, Jefferies said in a Wednesday note.Premium growth moderated in fiscal 2026 due to increased competition, affordability issues, and lower reinsurance costs. Commercial lines remain in a rate-reduction phase due to increased capacity, while domestic personal lines should remain positive due to persistent weather-related vulnerability.The sector's shares have performed well, with QBE Insurance Group (ASX:QBE) up 28% year-to-date, followed by Suncorp Group (ASX:SUN) at 6.5%, and Insurance Australia Group (ASX:IAG) 2.8%. Jefferies attributed the performance to the sector's defensive characteristics and earnings resilience.The investment firm retained the buy rating on Insurance Australia Group and raised the price target to AU$9.45 from AU$8.75. It downgraded QBE Insurance to hold from buy and raised the price target to AU$27.50 from AU$26.25. It retained the hold rating on Suncorp and raised the price target to AU$19.75 from AU$18.40.

Australian Shares Rise; Australia's Federal Court Approves ASX's AU$20.5 Million Settlement in Misleading Disclosure Case

Australian shares closed higher on Friday with investors now expecting the US Federal Reserve to keep interest rates steady after softer US jobs data.The S&P/ASX 200 Index rose 1.37%, or 119.80 points, to close at 8,844.30.On Thursday, the Dow Jones Industrial Average rose 1.1%, to set another record, reaching a fourth straight week of gains. Meanwhile, the S&P 500 was flat. The US nonfarm payrolls report showed the economy added 57,000 jobs in June, below the ​estimates for a rise of 110,000.Gold rose by over 1% to around $4,200 per ounce.On the domestic front, Australia's seasonally adjusted S&P Global Services purchasing managers' index (PMI) business activity index rose to 50.5 in June from 48.7 in May, signaling a marginal increase in business activity following a contraction in the previous month, according to a report by S&P Global.In company news, ASX (ASX:ASX) is set to pay a pecuniary penalty of AU$20.5 million for misleading disclosures in February 2022 over the progress of a technology upgrade project, Australia's Federal Court ruled. The case, brought by the Australian Securities and Investments Commission, centered on a claim by ASX that its CHESS Replacement Project was progressing well, even though the project was facing delays.Suncorp Group (ASX:SUN) placed its main catastrophe program for the fiscal year 2027, which maintains the maximum event retention of AU$350 million for a first and second large event, covering the home, motor, and commercial property portfolios across Australia and New Zealand. The firm's total reinsurance costs in fiscal year 2027 are expected to be higher than in fiscal year 2026.Genesis Minerals (ASX:GMD) reported gold production of 70,767 ounces for the June quarter, bringing fiscal year 2026 production to 285,400 ounces. The company said both production and all-in sustaining costs are within its fiscal year guidance range of 260,000 to 290,000 ounces at AU$2,500 to AU$2,700 per ounce.