Why the Suncorp (ASX:SUN) share price is in focus

Suncorp Group Ltd (ASX: SUN) shares will be on watch today after the company announced a 39.5% increase in half-year cash profit. At Monday’s close, the Suncorp share price was sitting at $10.44.

Why is the Suncorp share price in focus?

Suncorp reported its results for the half-year ended 31 December 2020 (1H 2021) this morning. That announcement was headlined by a 39.5% increase in cash profit to $509 million.

Strong earnings across all businesses, including insurance (Australia), banking & wealth and Suncorp New Zealand helped boost profits.

Group net profit after tax fell 23.7% on the prior comparative period (pcp) to $490 million. It’s worth noting the 1H 2020 figure included a $293 million gain on the sale of the Capital…