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BRIEF-Suncorp Group Has A Comprehensive Reinsurance Program In Place For FY21

Published 22/03/2021, 05:28 pm
© Reuters.
SUN
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March 22 (Reuters) - Suncorp Group Ltd SUN.AX :

* HAS A COMPREHENSIVE REINSURANCE PROGRAM IN PLACE FOR FY21

* SUNCORP'S FY21 NATURAL HAZARD ALLOWANCE IS $950 MILLION

* AS AT 22 MARCH, SUNCORP RECEIVED AROUND 1,300 CLAIMS WITH OVER 1-IN-5 RECEIVED ONLINE

* CLAIMS NUMBERS ARE EXPECTED TO RISE OVER COMING DAYS.

* MAIN CATASTROPHE PROGRAM HAS A MAXIMUM FIRST EVENT RETENTION OF $250 MILLION

* ADVISED THAT IT WAS TOO EARLY TO ACCURATELY ESTIMATE ULTIMATE NUMBER OF CLAIMS IT EXPECTS TO RECEIVE

* AS OF 28 FEBRUARY 2021 SUNCORP'S TOTAL NATURAL HAZARD COSTS ACROSS AUSTRALIA AND NEW ZEALAND WERE $643 MILLION

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