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BRIEF-Suncorp Group Updates On Response To Bushfires and Expected Financial Impact

Published 09/01/2020, 02:48 pm
Updated 09/01/2020, 02:49 pm
SUN
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Jan 9 (Reuters) - Suncorp Group Ltd SUN.AX :

* SUNCORP GROUP BUSHFIRE AND NATURAL HAZARD UPDATE

* SO FAR RECEIVED MORE THAN 2,600 BUSHFIRE-RELATED CLAIMS

* TOTAL BUSHFIRE COSTS YEAR-TO-DATE BETWEEN $315 TO $345 MILLION (INCLUDES ATTRITIONAL BUSHFIRE COSTS)

* TOTAL NATURAL HAZARDS COSTS FOR 1H20 OF $519 MILLION

* IN 6 MONTHS TO 31 DEC 2019, SUNCORP RECORDED SEVEN NATURAL HAZARD EVENTS GREATER THAN $10 MILLION AND ATTRITIONAL CLAIMS OF $159 MILLION

* ANTICIPATES DEPLOYING ITS TEAMS TO SEVERELY AFFECTED TOWNS OF ULLADULLA AND BATEMANS BAY IN NSW AND BAIRNSDALE IN VICTORIA

* ASSESSMENTS FOR CLAIMS LODGED IN RELATION TO NOV 2019 BUSHFIRES ON NSW CENTRAL COAST, CENTRAL QUEENSLAND COMPLETED

* COMPANY IS ON STANDBY TO ALSO SEND TEAMS TO SOUTH COAST OF NSW AND EAST GIPPSLAND REGION IN VICTORIA WHEN IT IS SAFE

* ASSESSMENTS FOR CLAIMS LODGED IN RELATION TO NOV 2019 BUSHFIRES IN ADELAIDE HILLS REGION ARE EXPECTED TO FINISH THIS WEEK

* REINSURANCE PROGRAM PROVIDES STRONG 2H20 EARNINGS PROTECTION, INCLUDING $200 MILLION STOP LOSS

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