Suncorp Group posted a 48% rise in profit for the six months to the end of December, due to lower insurance claims and stronger financial markets.
The company on Wednesday said the cost of claims from floods and bushfires since the end of December total up to $A417 million.
AAP reports this was below its allowance of $A520 million for the full 2012/13 financial year.
Suncorp made a net profit of $A574 million in the six months to December 31, up from $389 million in the previous corresponding period.
Revenue in the six months to December of $A8.2 billion was up 1.4% from $A8.1 billion in the same period the previous year.
Suncorp declared an interim dividend of 25 cents per share, up from 20 cents at the same time the previous year.