Suncorp launches hybrid

Suncorp has launched an issue of hybrid securities, offering the same pricing as Commonwealth Bank when it launched PERLS XII Capital Notes last month. Suncorp is looking to raise A$250 million. Suncorp Capital Notes 3 will be priced at a…

Big general insurers losing share, downgraded

Macquarie Securities has rated Australia’s two biggest general insurers, IAG and Suncorp, ‘underperform’, concerned that challenger brands are taking more and more market share away from them. Macquarie’s analysis of the latest financial reports shows that a number of small…

Your bank hybrids are junk

Suncorp Group completed an issue of additional tier one capital notes, more commonly known as hybrids, last month, after receiving strong retail investor demand for the securities. It will pay investors a regular distribution set at the bank bill rate…