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Australia's Suncorp hits two-week low after lowering premium growth forecast

By Reuters News

** Shares of Suncorp SUN.AX fall as much as 2.7% to A$19.220, their lowest level since October 15

** Insurer cuts FY27 gross written premium growth forecast to about 3% from a range of 3%-5%

** Says the loss of a single large commercial contract is expected to reduce FY27 premium growth by about A$125 million ($88.26 million)

** Says a weaker New Zealand dollar is expected to reduce growth by about 70 basis points in Australian dollar terms

** New growth forecast is below the Visible Alpha consensus estimate of 3.6%

** YTD, stock up 9.7%, including the session's moves

($1 = 1.4162 Australian dollars)

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