By Alice Uribe

Suncorp Group is in a "very, very" comfortable position when it comes to capital and plans to assess any capital returns to investors at its next full year results, said Suncorp CEO Steve Johnston.

Speaking at the company's insurance investor day on Tuesday, Mr. Johnston said the macroeconomic environment is materially different than it was 12 months ago, which is giving the company confidence on the topic of capital returns.

"I guess like everyone we are waiting to see how the economy responds to the Jobkeeper, JobSeeker run-off over time," he said.

Jobkeeper and Jobseeker were government support programs, enacted as a response to the Covid-19 pandemic.

Suncorp's CFO Jeremy Robson said if there was a capital surplus it is the company's preference to declare a franked or special dividend, followed by on-market buybacks.

"So we will consider those things as we get through the 30 June year end," he said.

Write to Alice Uribe at alice.uribe@wsj.com

(END) Dow Jones Newswires

05-10-21 2334ET