SUN suncorp group limited

News: SUN Suncorp Group Announces FY23 Reinsurance Program And General Insurance Update

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    July 4 (Reuters) - Suncorp Group Ltd (SUN) :

    • FY23 REINSURANCE PROGRAM AND GENERAL INSURANCE UPDATE-SUN.AX
    • IN FY22 GROUP DEALT WITH 35 SEPARATE EVENTS AND OVER 120,000 NATURAL HAZARD CLAIMS, AT AN EXPECTED COST OF AROUND A$1.1 BILLION
    • GROUP'S MAXIMUM EVENT RETENTION HAS BEEN MAINTAINED AT A$250 MILLION FOR FY23
    • NATURAL HAZARD ALLOWANCE FOR FY23 IS EXPECTED TO INCREASE TO A$1,160 MILLION
    • STILL EXPECTED FY23 UNDERLYING ITR TO BE WITHIN FORECAST 10-12% RANGE
    • UPPER LIMIT OF MAXIMUM EVENT RETENTION INCREASED FROM A$6.5 BILLION TO A$6.8 BILLION
 
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