Suncorp committed to insurance

Suncorp, with about 3 million insurance customers and 1 million banking customers is looking to expand its brand strength outside Queensland and cross sell its products to customers. Managing director John Mulcahy says Suncorp would be an expensive proposition for potential buyers such as the Commonwealth Bank or St George Bank and remains committed to the model of combining banking, general insurance and wealth management under one roof. Suncorp shares have more than doubled in value since 2003.

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