Suncorp sells banking business to ANZ for $4.1 billion
After a protracted delay, Suncorp officially sold its banking business to ANZ for $4.1 billion on July 31. It also sold Asteron Life, a life insurance business. This leaves Suncorp as a pure property and casualty insurer. For the year, gross premiums rose 14 per cent to $14.1 billion. Cash profit jumped 16.6 per cent to $1.37 billion, which includes the banking business.
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