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Suncorp Group is a financial services company located in Queensland and its core business expense to retail banking, general insurance, wealth management and business banking. Back in 2007 Suncorp Group merged with Promina and all of their business operations are separate and operate within the integrated financial services group.
Of the banking front Suncorp has outlets all throughout Australia covering both retail and business banking but the majority of their business is situated in Queensland.
Suncorp services over 800,000 customers across over 170 retail outlets and provides home and personal loans, margin lending, credit cards, savings and transaction accounts and foreign currency services.
Back in 2007 from other was one of Australia’s largest general insurance companies and some called merged with them enabling them to become Australia’s third largest general insurance group with written premiums in excess of $3.8 billion. Suncorp’s insurance business covers all the usual insurance products such as home and contents, motor and boat, compulsory third-party insurance, workers compensation, personal effects cover and a range of commercial insurance products all targeted to the small to medium business. In Queensland alone Suncorp has over 1.5 million vehicles registered for compulsory third-party.
Suncorp also has strong roots in the wealth management area and services over 165,000 individual and small business clients. They provide the full range of wealth management products including superannuation, life insurance products, managed investments like unit trusts and of course financial planning and advice. They have in excess of 200 financial advisers and planners servicing their extensive network of clients.
Suncorp’s share price reached a high of nearly $24 at the end of 2006 and has since fallen from grace. 2007 and 2008 saw the share price drop an amazing amount in the midst of the economic crisis and on the 9th of February 2009 closed at $5.26.
Suncorp Group Quick Facts (As of June 2015)
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