Suncorp has been getting unwelcome attention from two influential financial commentators over the past couple of weeks, raising speculation that QBE might be running the ruler over the company.

CEO John Mulcahy says he doubts QBE would be interested in his Brisbane-based national insurer and has received no approaches from QBE on the matter.  

But Adele Ferguson and Robert Gottliebsen insist Suncorp is a strategic option for QBE, now that its move on IAG has been thwarted.

Ms Ferguson said earlier this month in The Australian that a move on Suncorp could be made by QBE and one of the four major banks. She said Suncorp’s $7.9 billion merger with Promina has been “nothing short of a disaster” on a share price basis and the market has wiped off almost three-quarters of the value of the takeover bid.

“QBE’s highly respected management team and board, led by Frank O’Halloran, is believed to have looked at Suncorp on more than one occasion but could never justify the price,” she said. “But that was then.”

Mr Gottliebsen, writing in the online Business Spectator on Friday, said a bid by QBE for Suncorp could be on the cards in 12 months time when the merged businesses are working more harmoniously, “although of course by then it might be worth a lot more money”.