Update on new programs: Suncorp Group Ltd edged slightly lower on ASX on September 21, 2017 as the group provided an address from its CEO along with a market update. The group’s FY17 NPAT of $1,075 million represented a 3.6% increase over 2016; and the good top line growth, disciplined management of margin, and a sensible balance between reducing overheads and investing in the future led a healthy foundation for time ahead. SUN’s Insurance business also achieved an underlying result well ahead of the prior year 2016. The group has been able to mitigate the impact of major events like Cyclone Debbie, to a great extent in FY17 with the help of reinsurance programs; and has extended those arrangements into FY18. The generous dividend payments and ability to come-up with better products among peers can help Suncorp flourish further. Given this, the group has shed light on its two significant programs of work that include Business Improvement Program (aiming to digitise the customer experience, optimise sales and service, end-to-end process improvement, claims redesign and smarter procurement) to deliver net benefits of $10 million, $195 million and $329 million over the next three years, and acceleration of the Marketplace to deliver benefits faster. The group has also signalled to increase the dividend payout ratio for the period in view of the additional one-off investment associated with the programs. SUN will revert back to the 60-80% target range in FY19.