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Natural Disasters Hit Insurer Suncorp Profits – The Age

Australian insurer said natural hazard claims costs for the six months to December had hit A$695 million, A$205 million more than expected

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Suncorp
A worker walks past a Suncorp sign in central Sydney. Photo: Reuters

 

Suncorp’s profits have fared better than expected during a summer of high natural hazard claims, despite wild weather and volatile investment markets sparking a 29.1% drop in profits and a cut to the dividend, The Age reported

The Australian insurer said its natural hazard claims costs for the six months to December had hit A$695 million ($496 million), which was A$205 million more than expected in the first half of the financial year.

Read the full report: The Age

 

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

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