March 31 (Reuters) - Suncorp Group Ltd (SUN) :
- NATURAL HAZARD UPDATE
- AS AT 12PM (AEST) 30 MARCH, SUNCORP HAD RECEIVED JUST OVER 7,600 CLAIMS ACROSS ALL THREE STATES
- SUNCORP ESTIMATES NET CLAIMS COSTS IN RELATION TO THIS EVENT WILL BE $230 - 250 MILLION
- COSTS OF THIS EVENT WILL BE CAPPED AT $250 MILLION UNDER GROUP'S MAIN CATASTROPHE PROGRAM.
- CLAIMS NUMBERS ARE EXPECTED TO RISE FURTHER AS CUSTOMERS GAIN ACCESS TO AFFECTED REGIONS AND EXTENT OF DAMAGE BECOMES CLEAR
- EXPECTS MAJORITY OF CLAIMS TO BE ATTRIBUTED TO A SINGLE EVENT ACROSS ALL THREE STATES FOR REINSURANCE PURPOSES
- HAS A COMPREHENSIVE REINSURANCE PROGRAM IN PLACE THAT PROVIDES STRONG PROTECTION FOR REMAINDER OF FINANCIAL YEAR
Source text https://bit.ly/3czKBD2
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News: SUN Suncorp Says As Of 30 March, Received Just Over 7,600 Claims Across All Three States
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