Suncorp struggling to compete

Two brokers have issued negative reports on Suncorp Metway. Suncorp motor insurance is 17 per cent more expensive than most of its major competitors according to research by broker JP Morgan. Citibank has downgraded its outlook for the bank and general insurance group's share price and says Suncorp could become a takeover target. Westpac, St George or an overseas financial institution could be possible interested buyers.