Slide 1: Consolidated financial results for the year ended 30 June 2010
Consolidated financial results for the year ended 30 June 2010 For personal use only Full year results 2010 25 August g 2010 Agenda • Introduction & highlights – Patrick Snowball • Detailed results – John Nesbitt • General Insurance • Banking • Life • Capital • Group update – Patrick Snowball • Conc
Slide 2: Challenges and priorities for 2009/10
Consolidated financial results for the year ended 30 June 2010 Challenges and priorities for 2009/10 For personal use only CHALLENGES PRIORITIES Stabilisation • Restore credibility Balance sheet strength • Rebuild confidence Simplification • Change the culture Executive team Plan for growth ONE COMP
Slide 3: Result highlights
Consolidated financial results for the year ended 30 June 2010 Result highlights For personal use only A$m FY10 %Δ General Insurance profit after tax 557 34% C Consolidated lid t d B Bank k profit fit after ft tax t before b f one offs ff 44 19% Life profit after tax 222 90% PROFIT AFTER TAX FROM BU
Slide 4: General Insurance overview
Consolidated financial results for the year ended 30 June 2010 Agenda For personal use only • Introduction & highlights – Patrick Snowball • Detailed results – John Nesbitt • General Insurance • Banking • Life • Capital • Group update – Patrick Snowball • Conclusion – Patrick Snowball • Questions 7
Slide 5: Gross Written Premium and General Insurance claims
Consolidated financial results for the year ended 30 June 2010 Gross Written Premium For personal use only Product FY10 %Δ Factors Motor 2,451 6.4 Solid premium and net written unit growth Significant premium increases and resilient Home 1,725 13.6 customer retention Increases in short-tail classes
Slide 6: General Insurance investment income and expenses
Consolidated financial results for the year ended 30 June 2010 General Insurance investment income For personal use only FY10 Investment income A$m Underlying yield 355 Discount rate impact on insurance liabilities 142 Economic and accounting mismatch 105 Total 602 11 General Insurance expenses Acqu
Slide 7: General Insurance margin and Consolidated Bank overview
Consolidated financial results for the year ended 30 June 2010 General Insurance margin For personal use only 14% 12% 2.6% 2.6% 10% 9.6% 1.6% 1.0% 9.0% 8% 6% 4% 2% $605m $165m ($161m) ($105m) $62m $566m 0% Reported ITR Natural Reserve Investment One-off Underlying hazards releases income expense ITR
Slide 8: Core Bank: deposits, lending assets and credit quality
Consolidated financial results for the year ended 30 June 2010 Core Bank: deposits and lending assets For personal use only Total deposits growth, June 2010 1.51% 1 month 1.33% Suncorp 1.26% 3 months 2.23% APRA System 6.21% 6 months 4.89% 12.92% 12 months 7.99% Suncorp historical mortgage growth v R
Slide 9: Non-Core Bank: assets and credit quality
Consolidated financial results for the year ended 30 June 2010 Non-Core Bank: assets For personal use only Forecast run-off, A$bn Non-core assets, A$bn 17.5 Actual run-off ahead 1.5 15.6 20 of forecast by $1.4bn 18 1.2 Expected 12.6 16 Actual 6.6 0.8 14 5.9 12 5.0 10 8 6.1 6 5.6 4.3 4 2 3.3 3.0 2.5
Slide 10: Life overview and Embedded Value
Consolidated financial results for the year ended 30 June 2010 Life overview For personal use only A$m FY10 %Δ Life underlying profit after tax 192 7 250 250 • Life Risk profit $137m $137m, up 1% 200 180 192 200 • Planned profit margin release $85m, up 8% • In-force premiums $784m, up 7% 150 150 • L
Slide 11: Group Balance Sheet and Capital ratios
Consolidated financial results for the year ended 30 June 2010 Group Balance Sheet For personal use only Balance Sheet • Net assets of $14 billion • Includes goodwill and intangibles of $6.6 billion • Net tangible assets of $7.4 billion Core Capital Levels General Bank Life Insurance $2.6bn $1.7bn $
Slide 12: Group commitments and targets
Consolidated financial results for the year ended 30 June 2010 Agenda For personal use only • Introduction & highlights – Patrick Snowball • Detailed results – John Nesbitt • General Insurance • Banking • Life • Capital • Group update – Patrick Snowball • Conclusion – Patrick Snowball • Questions 23
Slide 13: The Suncorp Group business model
Consolidated financial results for the year ended 30 June 2010 The Suncorp Group business model For personal use only GROUP Capital and ratings • view of our 9 million customers ONE • approach to financial processes Shared group services benefits • view of employees p y Lean strong corporate centre