Suncorp highlights lower second-event NZ retention after Gabrielle damage

15 February 2023

In the aftermath of major flooding caused by Cyclone Gabrielle in New Zealand, Australian carrier Suncorp has said that the retained cost of any second declared event in the country will be NZ$25mn ($15.7mn).

The statement came as the carrier also capped losses from earlier flooding in Auckland at NZ$50mn, net of reinsurance cover.

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