A$3.4bn reinsurance recoveries help Suncorp to FY profit
Australian insurer Suncorp has succeeded in salvaging a full-year profit for the 12 months to 30 June despite incurring almost A$4bn of gross natural catastrophe claims, as it recouped more than A$3.4bn from reinsurers.
The insurer also confirmed that it had significantly increased its gross loss estimate for the second Christchurch earthquake since it last publicly reported a figure on 30 May, as revealed last month by The Insurance Insider.
The group reported a A$400mn deterioration from A$1.6bn to A$2.024bn...
You are currently viewing an incomplete version of this article. If you are a subscriber then please login now. If you are a non-subscriber but would like to be able to view this article, then please select from the purchasing options below.
Purchase
Follow us:
