By Alice UribeSYDNEY--Suncorp Group posted a 5.4% rise in half-year net profit, with its investment income boosted by a significant improvement in investment returns. The Australian general insurer said Monday that net profit rose to 582 million Australian dollars (US$381.7 million) in the six months through December. "Strong equity market performance, higher running yields and favorable mark-to-market movements across the General Insurance business, resulted in higher net investment income of A$396 million, compared to A$167 million in first half fiscal 2023," said Suncorp. Directors of the company declared an interim dividend of 34 Australian cents a share, up from 33 Australian cents a share last year. Suncorp said it expected to incur A$70 million post-tax of bank separation costs in the second half of fiscal 2024.

Source: Wall Street Journal February 25, 2024 22:04 UTC