sydneyshares in suncorp group ltd rose on wednesday after the general insurer reported its firsthalf results which were marked by strong earnings boosted by higher insurance pricing the stock was up 42 at 1299 australian dollars us904 it earlier climbed to a1312 which is its highest point over the last 12 months suncorp on wednesday said its net profit of a560 million for the six months through december up 44 from the a388 million reported a year earlier at the same time it reported gross written premium growth in australia and new zealand boosted by strong pricing our australian and new zealand businesses have achieved strong growth in premiums the bank continued to grow its home and business lending portfolios and customer deposits said chief executive steve johnston suncorp said it remains on track to achieve its fullyear targets with some industry experts suggesting that there is further growth in insurance pricing ahead the insurance business generated high levels of premium growth and strong underwriting performance as reflected in its combined ratio of 945 the groups banking operations are benefiting from rising interest rates said frank mirenzi vice president at moodys investors service over the second half of the year we expect increasing prices to benefit the insurance business however the credit cycle may turn raising risks and credit costs for the bank