Suncorp Life posts $125m full-year profit

Suncorp Life has recorded a 35.9 per cent increase it is net profit after tax for the year ending 30 June 2015.

Posting its results on the ASX today, Suncorp Group said its life insurance business had recorded a net profit after tax of $125 million, a 35.9 per cent increase on the previous year and an underlying net profit after tax of $113 million. 

This result was attributed to positive claims and lapse experiences throughout the year and a focus on cost control with operating expenses down 7.3 per cent, according to a statement from Suncorp.

Suncorp’s insurance business also saw annual in-force premiums increase to $970 million, with total in-force premiums up 6.5 per cent.

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