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20 April 2018

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Hail losses push Suncorp over H1 nat cat budget

Catrin Shi 15 February 2018

Australian carrier Suncorp exceeded its natural catastrophe claims budget for the six months to 31 December by A$65mn ($51.8mn), primarily driven by losses from the Victoria hailstorm in December.

For the fiscal half-year, Suncorp booked A$395mn of nat cat claims, A$167mn of which related to the Victoria hailstorm, which was by far the costliest cat event during the period.

Other weather-related cat events in the period included hailstorms in Toowoomba, Lismore and Grafton, as well as flooding in southern Australia...

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