Slide 1: Financial results for the six months to 31 December 2010
Financial results for the half year ended 31 December 2010 For personal use only Financial results for the six months to 31 December 2010 23 February 2011 S Suncorp Group G Li i d Limited Agenda 1. Introduction and highlights – Patrick Snowball 2. Detailed results – John Nesbitt • General Insurance
Slide 2: Managing change and the impact of major events
Financial results for the half year ended 31 December 2010 Managing change and the impact of major events For personal use only Progress on 5 key priorities Major events impact profit • Stabilisation • Natural hazard events in • Balance sheet strength Australia and NZ • Simplification • Reinsurance
Slide 3: Continued focus on simplification / Result highlights
Financial results for the half year ended 31 December 2010 Continued focus on simplification For personal use only • Single enterprise agreement – One Team • Single general ledger Building Blocks • Customer data warehouse • Single pricing engine – AAMI integrated • Progress on Guidewire, Repairlink
Slide 4: General Insurance overview
Financial results for the half year ended 31 December 2010 Agenda For personal use only 1. Introduction and highlights – Patrick Snowball 2. Detailed results – John Nesbitt • General Insurance • B ki Banking • Life • Capital 3. Update on recent events • New Zealand – Roger Bell • Personal Insurance
Slide 5: Gross Written Premium / General Insurance claims
Financial results for the half year ended 31 December 2010 Gross Written Premium For personal use only Product HY11 %Δ Factors Motor 1,262 4.7 Solid premium and net written unit growth Significant premium increases and resilient Home 943 8.8 customer retention Rate increases across targeted channels
Slide 6: General Insurance underlying margin
Financial results for the half year ended 31 December 2010 Long-term catastrophic loss experience For personal use only 3,000 Events >$100m only, gross of all reinsurance, $m 2,500 2,000 1,500 1,000 Long run average 500 0 Data supplied by Risk Frontiers (Macquarie University) using the Insurance Cou
Slide 7: Core deposits and lending assets / credit quality
Financial results for the half year ended 31 December 2010 Core deposits and lending assets For personal use only Summary Core lending assets, A$bn • Deposit to loan ratio maintained at top end 37.4 38.9 36.5 of target range 3.4 3.4 3.4 Agribusiness 4.3 4.4 • Deposit growth moderated to match 4.1 0.
Slide 8: Non-core assets
Financial results for the half year ended 31 December 2010 Non-core assets For personal use only • Run-off of $2.8 billion for the half • Refinancing opportunities have increased in the property and development finance markets • Higher ratio of impaired assets, where interest is not brought to accou
Slide 9: Life overview / Group Balance Sheet
Financial results for the half year ended 31 December 2010 Life overview For personal use only Movement in Embedded Value • Life underlying profit after tax of $71m, down 16.5%, impacted by: June 2010 2,406 • Claims experience Portfolio • Lapses (50) realignment • New business momentum with sales up
Slide 10: Capital as at December 2010
Financial results for the half year ended 31 December 2010 Capital as at 31 December 2010 For personal use only Group capital $10.8 billion Bank Total Capital $5.2 $5 2 billion Net Tier 1 Ratio 13.7% Total Capital Ratio 14.2% Target Total Capital Ratio 13% General Insurance Lif Life Total Capital $3
Slide 11: New Zealand earthquake
Financial results for the half year ended 31 December 2010 Agenda For personal use only 1. Introduction and highlights – Patrick Snowball 2. Detailed results – John Nesbitt • General Insurance • B ki Banking • Life • Capital 3. Update on recent events • New Zealand – Roger Bell • Personal Insurance
Slide 12: Personal Insurance delivers on improving underlying ITR
Financial results for the half year ended 31 December 2010 Agenda For personal use only 1. Introduction and highlights – Patrick Snowball 2. Detailed results – John Nesbitt • General Insurance • B ki Banking • Life • Capital 3. Update on recent events • New Zealand – Roger Bell • Personal Insurance
Slide 13: Commercial Insurance
Financial results for the half year ended 31 December 2010 Agenda For personal use only 1. Introduction and highlights – Patrick Snowball 2. Detailed results – John Nesbitt • General Insurance • B ki Banking • Life • Capital 3. Update on recent events • New Zealand – Roger Bell • Personal Insurance
Slide 14: 2010/11 Reinsurance program
Financial results for the half year ended 31 December 2010 2010/11 Reinsurance program Aggregate Program For personal use only Property Catastrophe Program 700 $5.6bn Victorian Storms (Feb 11) 72 First Limit Reinstatement (1 TC Yasi (Feb 11) prepaid) 600 Recoverable e Remaining CAT cover Victorian F
Slide 15: Suncorp Bank operational response
Financial results for the half year ended 31 December 2010 Suncorp Bank operational response For personal use only Supporting our affected communities Flood and cyclone events... • Customer service maintained throughout • More than 50 branches and 40 ATMS affected • Call centres flood damaged • Hund
Slide 16: Suncorp Life
Financial results for the half year ended 31 December 2010 Agenda For personal use only 1. Introduction and highlights – Patrick Snowball 2. Detailed results – John Nesbitt • General Insurance • B ki Banking • Life • Capital 3. Update on recent events • New Zealand – Roger Bell • Personal Insurance
Slide 17: Agenda
Financial results for the half year ended 31 December 2010 Agenda For personal use only 1. Introduction and highlights – Patrick Snowball 2. Detailed results – John Nesbitt • General Insurance • B ki Banking • Life • Capital 3. Update on recent events • New Zealand – Roger Bell • Personal Insurance
Slide 18: Building momentum …commitments
Financial results for the half year ended 31 December 2010 Building momentum …commitments For personal use only Single Group view of employees, finances and customers NOHC approved to provide clarity around capital General Insurer Regional Bank Niche Life Insurer • 1 to 1.3 times system • 3 year foc
Slide 19: For personal use only
Financial results for the half year ended 31 December 2010 For personal use only