0451 GMT - OUTsurance's confidence in its Australian subsidiary's growth prospects looks like a reason for caution toward locally listed general insurers, Macquarie analysts warn. The analysts use a note to draw clients' attention toward OUTsurance's belief that personal insurance growth in Australia, where it operates under the Youi brand, is the "most prominent long-term growth lever" across the whole of the South Africa-listed group. Youi reported fiscal 2026 gross written premium growth of 21% for personal lines, compared with 5.8% at Suncorp and 18% at Insurance Australia Group, the analysts add. This demonstrates continued execution of a profitable growth strategy, they warn. Macquarie has an outperform rating on Suncorp and an underperform rating on IAG.