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The Suncorp Group Ltd share price could be volatile in February

Suncorp Group Ltd (ASX: SUN) opened at $13.77 on February 2, up almost 10% from its September 2017 low of $12.53 with a steady price climb this calendar year.

Suncorp is a Brisbane-based financial services conglomerate with insurance, superannuation, retail and business banking and investment interests across Australia and New Zealand.

It will release its interim results on February 15 with no surprises expected similar to the profit update of late 2015, but the share price may take a hit when the $17.2 million refund to shareholders related to the car dealer insurance bungle is actioned later this year.

The company has enjoyed positive press for demonstrating good cost-cutting practices via its strategies to streamline the group’s policy systems and consolidate technology platforms, although analysts have been lukewarm about its pitch to re-position itself as a “fintech giant”.

Fundamentally the insurer is in a strong position as we enter reporting season and it should book a good full year result for FY18.

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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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