SUN

Banking and Insurance company, Suncorp Group (ASX:SUN), has announced its first half results to shareholders, investors and traders.

• Suncorp Net Profit at $574 million, up 48 percent on the previous corresponding period.
• Suncorp owns insurance brands: AAMI and GIO. Its insurance businesses made $564 million profit, from $162 million in the previous corresponding period.
• Company's written premiums increased 9 percent to $4.2 billion.

The Australian banking and insurance company, Suncorp Group (ASX:SUN) have released its full year profit results FY2012.

• Net profit jumped 60 percent to $724 million from $453 million.
• The previous financial year for Suncorp was marked by large costs from a number of natural disasters.

There are no floats but there are a couple of ex-dividends scheduled for tomorrow and there are quite a few companies who are holding their Annual General Meeting on Thursday October 27, 2011.

Annual General Meetings

Here is a list of companies who have scheduled an AGM on Thursday:

Reinsurance groups are insisting that major insurer Suncorp (ASX:SUN) increase its premiums.

Suncorp is resisting the price hikes due to recent extreme weather conditions negatively affecting company performance, resulting in stalled talks with the reinsurers. The company said that short term profits will take a significant hit from bourgeoning reinsurance costs.

Suncorp (ASX:SUN) said that the cost of reinsurance due to the Christchurch earthquake is around $92.1 million. In February its reinsurance program limited its exposure In New Zealand by $NZ60 million. However its was too early to estimate the financial impact of the earthquake during that time. The disaster struck Christchurch with a 6.3 magnitude last February 22, taking more than 180 lives. The total cost of rebuilding has been estimated to be at $NZ16 billion.

Suncorp (ASX:SUN), the Australian flood insurer, stated that it may withdraw from covering affected properties if Wivenhoe Dam is not managed properly in the future. The company automatically covers floods, insuring 37 percent of Queensland households.

Worst Performers on the S&P ASX 100 companies this week. These stocks decreased their share price by the largest percentage on the Australian sharemarket, the Australian Securities Exchange (ASX) from the previous week of trading (2nd week: 10th January to 14th January 2011). Other lists of Australian companies by market capitalisation.

Worst Performers on the S&P ASX 00 companies this week. These stocks decreased their share price by the largest percentage on the Australian sharemarket, the Australian Securities Exchange (ASX) from the previous week of trading (2nd week: 10th January to 14th January 2011). Worst performing S&P ASX 200 stocks this week include: SDL, CHC, CTX, SUN, BLY, AWC, SGM, IFN, MMX, CSR, WTF, NWS, ASX, IAG, BOQ.

Stock Filter of the ASX 100 Losers this week. These stocks decreased their share price by the biggest percentage on the Australian stockmarket, the Australian Securities Exchange (ASX) from the last week of trading (49th week: 6th December to 10th December 2010). Stocks included this week are: LYC, TEL, BOQ, TOL, MTS, AIO, CWN, CQO, AQP, IPL, GFF, TLS, SUN, DJS, WAN. Other lists of Aussie companies by market capitalisation.