Shares to Buy – Australian Share
Shares to Buy – Australian Share
Shares to Buy 21 May 2010
In todays General Insurance Investor Update, Suncorp-Metway outlined plans to simplify the structure of its general insurance arm in order to improve its margins.
SUN is targeting both margin improvement and $235 million in annual cost savings by June 2013.
SUN intends to move to a single view on pricing and claims, effectively lowering costs and helping it leverage its scale across its insurance brands.
Project costs of $120 million will be absorbed into SUNs existing cost base as the group slashes discretionary spending.
SUNs intention is to boost market share in the small-to-medium enterprises segment.Australian share price for SUN eked up one cent on Friday and last closed at $8.00 a share.