SUN suncorp group limited

News: SUN Suncorp finalises execution on New Zealand Autosure disposal

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    Jan 23 (Reuters) - Suncorp Group Ltd (SUN)

    • Suncorp finalises execution on New Zealand Autosure disposal
    • While majority of Canterbury earthquakes costs to be absorbed by co's reinsurance program, it expects to incur net cost of NZ$18 million in HY17
    • Sale results in a release of capital of approximately a$30 million and a post-tax loss on disposal of a$25 million
    • For six months to 31 December 2016, natural hazard claims costs in australia and New Zealand are estimated to be $350 million
 
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