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BRIEF-Suncorp Group Flags Costs From Sydney Hailstorm

Published 21/12/2018, 02:26 pm
BRIEF-Suncorp Group Flags Costs From Sydney Hailstorm
SUN
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Dec 21 (Reuters) - Suncorp Group Ltd SUN.AX :

* PROVIDES UPDATE ON HAILSTORM WHICH IMPACTED SYDNEY REGION ON 20 DECEMBER 2018

* HAD RECEIVED 7,800 CLAIMS IN RELATION TO SYDNEY HAILSTORM AS AT 12.30PM

* CO HAS COMPREHENSIVE REINSURANCE PROGRAM FOR FY19, WHICH LIMITS FINANCIAL IMPACT OF THIS EVENT TO A MAXIMUM OF $250 MILLION

* TOO EARLY TO ACCURATELY ESTIMATE NUMBER OF CLAIMS IT EXPECTS TO RECEIVE OR FINAL COSTS IN RELATION TO SYDNEY HAILSTORM

* PRIOR TO STORM, ESTIMATES TOTAL AUNZ NATURAL HAZARD COSTS FOR HY TO DEC 31 TO BE $350 MILLION TO $360 MILLION

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