All posts by Richard Coles
Senior Analyst
Sectors Covered: Insurance, Diversified Financials
By Richard Coles
12 February 2020, 10:45 AM
We believe the Suncorp Group (ASX:SUN) management team's strategy of reducing earnings volatility and improving core business performance is the correct one. However, headwinds remain and the timeline to a meaningful uplift in business trajectory is difficult to call, in our view.
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By Richard Coles
03 February 2020, 10:20 AM
Overall, it has been a terrible few months for the general insurers, with unprecedented claims events occurring. However, we feel like long-term value is re-emerging for SUN at current levels. Maintain ADD rating.
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By Richard Coles
20 January 2020, 10:57 AM
We update our Insurance/Diversified Financials sector earnings on a mark-to-market and a broad review of our earnings assumptions.
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By Richard Coles
26 November 2019, 4:50 PM
While an AUSTRAC fine remains a possibility, we continue to see the quantum of any potential fine as relatively immaterial versus APT’s market cap ($8bn).
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By Richard Coles
09 August 2019, 6:15 PM
While SUN is going through a transition phase this year, we ultimately think steps to refocus and de-risk the business will drive a re-rating over time.
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By Richard Coles
23 July 2019, 4:40 PM
We see more downside risks than upside risks heading into reporting season, with the exception largely being the health insurers.
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By Richard Coles
28 May 2019, 12:30 PM
Suncorp Group CEO and Managing Director Michael Cameron has stepped down, replaced in the interim by current CFO, Steve Johnston. We think the transition to the new CEO will be seen broadly as a positive.
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By Richard Coles
15 May 2019, 10:21 AM
We re-examine the KSL investment thesis, which we see as an earnings driven re-rating story over the next 12-18 months.
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By Richard Coles
26 February 2019, 2:00 PM
Good progress evident
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By Richard Coles
04 February 2019, 1:30 PM
Entering the reporting season our Insurance/Diversified Financials Add calls (in order of preference) are Link Administration Holdings (LNK), Suncorp Group (SUN), QBE Insurance (QBE), and NIB Holdings (NHF).
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