And on cue for SUN less so other insurers because of deep north focus, the estimated loss resulting from Tropical Cyclone Marcia has increased to A$403.6mn ($309.4mn) following an influx of claims, the Insurance Council of Australia (ICA) said today (12 March).
The ICA said that insurers were now handling 29,565 claims, after Cyclone Marcia struck the Queensland coast as a Category 5 storm last month.
ICA CEO Rob Whelan explained that most claims received to date were for domestic policies in the towns of Yeppoon and Rockhampton, as well as neighbouring area see below http://www.insuranceinsider.com/cyclone-marcia-losses-top-a-400mn-ica
SUN might go down below $13 2morrow although margins should improve in personal lines.
SUN Price at posting:
$13.37 Sentiment: Hold Disclosure: Not Held
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