At their AGM Sun made it pretty clear that they had tightened up their reinsurance arrangements. In particular they talked about aggregate loss cover which places an upper limit on payouts for one or more castastrophes in any given year (basically stop loss cover).
Reinsurance is all about smoothing results year to year if placed properly.
Sun(through poor reinsurance programmes) may have been over exposed to multiple weather events last year and took a bigger than budget hit to the bottom line.
Weather is my least concern about any well managed Australian insurer.
9 yr low , page-5
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Last
$16.11 |
Change
-0.050(0.31%) |
Mkt cap ! $20.49B | |||
| Open | High | Low | Value | Volume |
| $16.10 | $16.19 | $15.98 | $61.57M | 3.828M |
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| No. | Vol. | Price($) |
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| 5 | 28363 | $16.11 |
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| Price($) | Vol. | No. |
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| $16.17 | 120 | 1 |
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| Last trade - 16.10pm 23/05/2024 (20 minute delay) ? |
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Last
$16.15 |
Change
-0.050 ( 0.20 %) |
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| Open | High | Low | Volume | ||
| $16.09 | $16.19 | $15.98 | 384373 | ||
| Last updated 15.59pm 23/05/2024 ? | |||||
| SUN (ASX) Chart |