Morgan Stanley Prefers Suncorp Over IAG

Morgan Stanley prefers Suncorp over IAG due to stronger top‑line premium growth and re‑rating potential.
March 2026 survey shows home insurance pricing up 6% YoY, motor pricing only 1% YoY, with Allianz pulling down averages.
Suncorp posted the highest motor price increase and benefited from a 9.5% YoY rise in Queensland compulsory third‑party premiums.
Morgan Stanley forecasts FY2026 organic GWP growth of 5.5% for Suncorp Consumer versus 3.5% for IAG, citing rising input costs.