Insight and Intelligence on the London & International Insurance Markets 18 Mar 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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