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Australia's Suncorp slumps on denying takeover talks with Japan's Tokio Marine

By Reuters News04:44 (UTC), 1 October 2026 Updated

** Shares of Suncorp SUN.AX fall as much as 6.7% to A$18.63, marking their weakest intraday session since February 17, 2025

** Stock gives up gains from previous session

** In a response to the exchange, the Australian insurer confirmed it is not in discussions regarding a takeover, nor has it received a takeover offer

** Media articles on Wednesday said Suncorp reportedly entered preliminary discussions with Japanese insurer Tokio Marine 8766.T, citing unnamed sources

** The Financial Times reported in August that Suncorp had emerged as the preferred takeover target for Tokio Marine, citing people familiar with the matter

** Day's losses cut YTD gains to 6.6% for stock

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