Morgan Stanley observes strong gross written premium (GWP) growth across personal and commercial lines of insurance on double digit pricing, according to September quarter Australian insurance industry data.

While Suncorp Group's GWP growth was better than expected it still lagged system growth. It's thought strong pricing presents upside risk going forward.

The broker retains its Equal-weight rating and $11.30 target. Industry View: In-Line. 

Sector: Insurance.

Target price is $11.30.Current Price is $11.91. Difference: ($0.61) - (brackets indicate current price is over target). If SUN meets the Morgan Stanley target it will return approximately -5% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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