Suncorp expects to outperform peers over medium term

Suncorp didn’t provide any change to its short-term profit guidance at an investor briefing, but reiterated that the group expected a “substantial increase in underlying profit.” Suncorp said that over a three to five year time frame, it expected to “deliver a stronger rate of growth than a combination of any of our monoline peers … we will consistently outperform any combination of a monoline bank and general insurer.” The company said, “we are not saying we will do that for every discrete six month reporting period but we will do it on average over a medium term investment horizon.”