Suncorp Group Limited · ASX:SUN
Suncorp — H1 FY2026 Earnings Presentation
29 slides from Suncorp's earnings presentation, Feb 18, 2026
Slide 1: Financial Results
| Financial Results For the half year ended 31 December 2025 18 February 2026 SUNCORP GROUP LIMITED ABN 66 145 290 124
Slide 2: 1H26 Overview
| 1H26 Overview Steve Johnston Chief Executive Officer & Managing Director 1H26 Financial Results | 2
Slide 3: Purpose driven, delivering strong outcomes for the long term
1H26 Financial Results | 3 Purpose driven, delivering strong outcomes for the long term
Slide 4: Result overview
1H26 Financial Results | 4 Result overview Underlying business performing well Cash earnings Underlying ITR $270m 11.7% Event response to drive long-term value pcp: $828m pcp: 11.8% Strong growth in Consumer portfolio including customer growth Net investment Natural hazard Underlying margins in the
Slide 5: Gross written premium
1H26 Financial Results | 5 Gross written premium Consumer Consumer Group ꟷ Strong GWP growth in Consumer supported by unit growth of 2.0% in Home Motor Motor and 0.4% in Home with pricing reflecting stickier than expected inflation, particularly in the Motor portfolio ꟷ Enhanced risk selection and p
Slide 6: Natural hazard experience
1H26 Financial Results | 6 Natural hazard experience Declared events1 Natural hazard claims2 Natural hazard costs3 Online lodgement4 9 71,000 $1.3bn 57% Australia: 8 | New Zealand: 1 Home: 38,000 | Motor: 18,200 pcp: 51% Commercial: 4,600 | NZ: 10,300 TOP EVENT LOSS CAUSES5 1H26 NATURAL HAZARDS EXPE
Slide 7: Leading in extreme weather response
1H26 Financial Results | 7 Leading in extreme weather response ꟷ More than 3,300 welfare calls and 460,000 messages sent to customers providing safety information and guidance on home preparedness ꟷ Engaging customers on the ground with support across 27 affected communities ꟷ Pop-up assessment cent
Slide 8: 1H26 Financial Results
| 1H26 Financial Results Jeremy Robson Chief Financial Officer 1H26 Financial Results | 8
Slide 9: Result summary
1H26 Financial Results | 9 Result summary GROUP P&L1,2 1H25 1H26 ꟷ Result substantially impacted by natural hazard events, especially in ($m) ($m) Consumer, with nine separate events over $10m Consumer Insurance 509 (137) ꟷ Strong brand portfolio demonstrated by organic unit growth in both the Comme
Slide 10: Underlying margin
1H26 Financial Results | 10 Underlying margin UITR CONTRIBUTION BY PORTFOLIO ꟷ Suncorp has delivered UITR within 10-12% target for seven consecutive halves, with 1H26 UITR at the top end of range (0.2%) ꟷ Consumer benefited from lower reinsurance costs and the earn through of pricing, partially offs
Slide 11: Growth
1H26 Financial Results | 11 Growth GWP WALK - 1H26 TO 2H26 1H26 ꟷ Strong GWP growth in Consumer including unit growth in both Home and Motor, and in AA Insurance in NZ ꟷ C&PI supported by growth in CTP and Fleet but Workers’ Compensation impacted by lower burner premium adjustments ꟷ Commercial port
Slide 12: Insurance cycle and portfolio exposure
1H26 Financial Results | 12 Insurance cycle and portfolio exposure SUNCORP PORTFOLIO EXPOSURES INPUT COST EXPOSURE (by GWP) ꟷ Portfolios need established supply chains, brand presence and broker relationships Input cost exposure ꟷ Consumer portfolios pricing driven by input costs including claims Co
Slide 13: Consumer
1H26 Financial Results | 13 Consumer HOME AND MOTOR PORTFOLIO GROWTH UITR WALK 9.9% 15.9% 9.4% 12.9% (1.5%) 2.0% 9.5% 9.9% 8.7% 7.8% 6.6% 8.9% 5.5% 3.8% 2.3% 2.1% 1.4% 0.6% 1.4% 0.0% 2.0% 0.4% -0.8% -0.1% 1H24 2H24 1H25 2H25 1H26 Motor Units Home Units Motor AWP Home AWP 1H25 Motor Home 1H26 PROPORT
Slide 14: Commercial & Personal Injury
1H26 Financial Results | 14 Commercial & Personal Injury GWP WALK UITR WALK – PORTFOLIO ($m) 10.0% 9.4% (18) 2,203 (1.3%) 33 0.7% 29 2,150 9 1H25 Platform Commercial Compulsory Workers’ 1H26 1H25 Commercial Personal Injury 1H26 Business (Tailored lines) Third Party Compensation GWP BY PORTFOLIO Comm
Slide 15: New Zealand
1H26 Financial Results | 15 New Zealand GWP WALK UITR WALK (NZ$m) 21.3% 1,495 19.8% 0.7% (0.4%) 1.2% 6 (6) (54) (29) 1,412 1H25 Direct Intermediated Commercial Brokered book 1H26 1H25 Direct Intermediated Commercial 1H26 Consumer (AA) Consumer of business loss Consumer (AA) Consumer GWP BY BRAND AND
Slide 16: Natural hazards
1H26 Financial Results | 16 Natural hazards 1H26 NATURAL HAZARDS EXPERIENCE BY MONTH TEN YEAR NH EXPERIENCE LOOKBACK ($m) ($m) 2,400 2,200 562 2,000 475 1,770 1,800 91 67 74 1,600 1,621 50 July August September October November December 1,400 1,200 1,000 ꟷ Nine natural hazards events, primarily in O
Slide 17: Reinsurance
1H26 Financial Results | 17 Reinsurance FY26 SUNCORP REINSURANCE PROGRAM 6,300 ꟷ FY26 program provides strong protection whilst retaining profitable AUD350 exposures New Zealand buydowns NZD200 ꟷ We continue to review our program against our reinsurance framework Main Catastrophe Cover Event 1st NZ
Slide 18: Investment market impacts
1H26 Financial Results | 18 Investment market impacts UNDERLYING YIELD (AU INSURANCE FUNDS) UNDERLYING YIELD (NZ INS. FUNDS) 4.9% 4.9% ꟷ Underlying investment yields remain strong 0.4% 0.1% 0.2% 0.1% but investment income impacted by mark-to- 0.4% 3.7% 0.5% 3.5% market movements ꟷ Moderate decline i
Slide 19: Operating expenses
1H26 Financial Results | 19 Operating expenses OPERATING EXPENSES1 ($m; excluding restructuring, ESL and TEPL) ꟷ Expense ratio continued to improve with the increase in operating 893 expenses of 4% primarily driven by investment in growing the business 855 23 15 ꟷ Grow-the-business expenses increase
Slide 20: Capital
1H26 Financial Results | 20 Capital EXCESS COMMON EQUITY TIER 1 CAPITAL ($m) ꟷ Capital position remains strong with $700m excess to mid-point of CET1 target range (183) ꟷ Fully franked ordinary dividend in line with policy 263 997 (140) ꟷ Capital usage in the general insurance business reflects grow
Slide 21: Summary and Outlook
| Summary and Outlook Steve Johnston Chief Executive Officer & Managing Director 1H26 Financial Results | 21
Slide 22: Progress against strategic imperatives
1H26 Financial Results | 22 Progress against strategic imperatives Digital Insurer – AAMI delivery progressing Release 1 (early) benefits Release 1 – AA Insurance April 2025 ꟷ Higher digital conversion Home and Motor ꟷ Simplified underwriting Release 2 – AAMI ~ Mid 2026 Home and Motor ꟷ Lower cost t
Slide 23: Suncorp's Artificial Intelligence transformation
1H26 Financial Results | 23 Suncorp’s Artificial Intelligence transformation Strong foundational capabilities Well positioned to leverage accelerating AI Brand and market advantage ꟷ Proven track record of digital, tech and AI enabled transformation Leading multi-brand manager with a strong suite of
Slide 24: Platform modernisation – AI capabilities enabled
1H26 Financial Results | 24 Platform modernisation – AI capabilities enabled Customer experience Policy Enterprise ꟷ Document and e-mail ingestion ꟷ Employee lifecycle management support ꟷ Call summarisation ꟷ Quote pre-population ꟷ Self-service reporting and analytics ꟷ Real-time agent assist ꟷ Aut
Slide 25: FY26 Outlook
1H26 Financial Results | 25 FY26 Outlook GWP growth expected to be around the bottom of the mid-single digit range given the current cycle in Commercial in Australia and New Gross written premium Zealand. Expected to be in the top half of the 10% to 12% range supported by the continued earn through
Slide 26: Summary
1H26 Financial Results | 26 Summary Elevated natural hazards costs impacted results Strong response to support customers Systematic progress on key strategic imperatives to enable portfolio growth Robust underlying margins reflect continued strategic portfolio optimisation Active capital management
Slide 27: Questions
| Questions 1H26 Financial Results | 27
Slide 28: Important disclaimer
1H26 Financial Results | 28 Important disclaimer This presentation contains general information which is current as at 18 February 2026. It is information given in summary form and does not purport to be complete. It is not a recommendation or advice in relation to Suncorp Group Limited (Suncorp) or
Slide 29: Thank you
| Thank you 1H26 Financial Results | 29