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SUN $14.53

Investment return

  1. Henrik

    635 Posts.

    This result is not near as bad as what was predicted in AFR last week after the AMP downgrade and IAG's result.
    The market seem to think so as well - SUN just it $12.00

    Suncorp-Metway loss on investment income for year
    13:27, Monday, 8 July 2002

    Sydney - Monday - July 8: (RWE) - Suncorp-Metway Ltd today said
    it would record a marginal loss on investment income on general
    insurance shareholder funds for the full year to June.
    The bankassurance group expected investment returns on general
    insurance shareholders funds for the June half-year to be marginally
    positive but this would not be enough to offset a $7 million loss in the
    December half, attributed mainly to poor sharemarket performance.
    The company said strong active investment management and
    positive returns on other asset classes (property and cash) in the June
    half had allowed it to overcome equity returns that remained below
    long-term averages.
    Suncorp-Metway rose 17c to $11.88.

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