S&P revises Suncorp view to positive

S&P said it revised the outlook for Suncorp Group to positive from stable, reflecting the positive impact on the group's capital stemming from the divestment of the life insurance business and a stronger view of its bank capital.

“The positive outlook on Suncorp, and its core operating subsidiaries, reflects our expectation over the next 24 months that the group will maintain a very strong capital position and solid operating performance, which are resilient to potential earnings headwinds,” said S&P in a press release.

The agency affirmed its A+ ratings on Suncorp's core operating entities and A rating assigned to the non-operating holding company. S&P also affirmed the ratings on Suncorp's hybrid capital instruments.

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