Suncorp’s FY19 Should be OK, but New CEO Needs to Deliver Sustainable Future Earnings Growth
No-moat-rated Suncorp Group is at the crossroads--again, with a new CEO soon to be announced and a likely consequent change in direction for the group. The new CEO will inherit an underperforming bank and a general insurance business in Australia and New Zealand performing just OK. The past four years, including fiscal 2019, have not been particularly rewarding as far as earnings growth and shareholder returns go. Disappointingly, the current share price is broadly in line with mid-2015 levels, ...Suncorp Group is engaged in the general insurance, banking, life insurance, superannuation products and related services to the retail, corporate and commercial sectors. Co.'s segments are: Personal Insurance, which include home and contents insurance, motor insurance and travel insurance; Commercial Insurance, which include commercial motor insurance, commercial property insurance and marine insurance; General Insurance, which include home and contents insurance, motor insurance, marine insurance; Bank, which include personal and commercial banking; and Life, which include financial planning and funds administration services.
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