Retiring Suncorp Group chairman Christine McLoughlin described her final financial year as a defining period for the company.
McLoughlin will formally step down as chairman of Suncorp Group on 25 September, following the announcement of her retirement in June. She has served as chairman for seven years and has been a member of the board for a decade.
In her chairman’s address in Suncorp’s annual report, McLoughlin reflected on the company’s 2025 financial year milestones, including the completion of the Suncorp Bank sale and the divestment of its New Zealand life insurance business.
McLoughlin said Suncorp also provided support during 17 major weather events, including severe flooding across North Queensland and the Mid-North Coast of New South Wales, as well as the impacts of ex-Tropical Cyclone Alfred in Australia and ex-Tropical Cyclone Tam and flooding in New Zealand.
Natural hazard resilience was among several critical issues the Suncorp Board addressed over the past financial year. said the chairman. Other areas of focus included improving insurance affordability and addressing climate change.
Technology and AI also remained central priorities for the company, with efforts made to ensure responsible use aligned with governance frameworks, she said.
“Your board also spent considerable time strengthening our cyber knowledge and business resilience to the ever-growing threat and sophistication of cyberattacks, including conducting comprehensive insight sessions and simulations,’ she added.
McLoughlin also reported that the company ended the financial year with a net profit after tax of $1.8 billion.
Duncan West, a non-executive director, will succeed McLoughlin.
With nearly four years on the company’s board, West has served as chair of the Risk Committee and a member of the Audit Committee. He brings more than four decades of experience in insurance and financial services.
“I am confident Duncan, together with our CEO Steve Johnston, will continue to lead the business successfully into its next chapter,” McLoughlin said.
West said it was a privilege to lead Suncorp as a pure-play general insurer.
During her tenure as chairman, McLoughlin oversaw Suncorp’s transformation into a pure-play general insurer and led the renewal of the group’s board.
West is expected to carry forward this momentum and strategic direction.
As Duncan West steps in as chairman, what changes do you expect to see at Suncorp?
