Suncorp and Allianz Australia have retained positive ratings.

Rating agency Fitch says Suncorp remains at an “A+” insurer financial strength rating, with a stable outlook. Fitch says this “reflects improved underwriting performance and a significant increase in investment earnings”.

And Standard & Poor’s (S&P) has affirmed the long-standing “A” credit ratings on Allianz Australia and its NZ affiliate, and revised the rating outlook on the two companies to positive from stable.

S&P credit analyst Michael Vine says the change to a positive rating reflects Allianz Australia’s “sustained earnings, and improved business profile stemming from a growth in short-tail lines and the intermediary business”.