Australia's Suncorp denies takeover talks with Tokio Marine; shares fall

Oct 1 (Reuters) - Suncorp SUN.AX said on Thursday it was not in discussions regarding a takeover and had not received an offer, following a media article linking the Australian insurer with Japan's Tokio Marine 8766.T.

• In a response to a query from the Australian Securities Exchange, Suncorp said it had no undisclosed information that could explain the recent trading in its stock.

• Earlier in August, the Financial Times reported Japanese insurer Tokio Marine had identified Suncorp as a preferred takeover target after reviewing several potential options.

• The FT report added that Berkshire Hathaway-backed Tokio Marine had also considered several takeover targets, including Insurance Australia Group IAG.AX and Canada's Intact Financial Corp IFC.TO, before favouring Suncorp.

• Suncorp's shares fell as much as 6.7% to A$18.63, marking their weakest intraday session since February 17, 2025.