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Credit Suisse has downgraded the earnings forecasts for the two largest insurers in Queensland.
Suncorp and Insurance Australia Group Ltd (ASX:IAG) have been adjusted because of increasing reinsurance costs.
Full year earnings forecasts for IAG have been downgraded by 3 - 4 per cent, while full year earnings for Suncorp have dropped 11 percent.
On Wednesday Suncorp said it may incur additional reinsurance costs of around $120 million. Suncorp has the biggest exposure to Queensland's floods.
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Last
$8.54 |
Change
-0.240(2.73%) |
Mkt cap ! $20.19B | |||
| Open | High | Low | Value | Volume |
| $8.78 | $8.78 | $8.52 | $50.88M | 5.931M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 7326 | $8.53 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.57 | 33989 | 3 |
View Market Depth
| Last trade - 16.17pm 08/08/2025 (20 minute delay) ? |
| IAG (ASX) Chart |