Suncorp’s reinsurance recoveries rise 160% to A$2.4bn
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Suncorp’s reinsurance recoveries rise 160% to A$2.4bn

Aisling Finn
08 August 2022
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Australian carrier Suncorp saw its reinsurance recoveries for the group increase nearly 160% to reach A$2.45bn ($1.7bn) in the year to 30 June, as the carrier saw 35 separate weather events and around 130,000 natural hazard claims.

Full-year results for the group show that reinsurance and other recoveries increased 158.9% on the 2021 figure of A$947mn, after a period in which the carrier was impacted particularly badly by the floods in February and March across new...

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