$18-billion insurance giant
Suncorp is expecting to take a $160 million to $170 million hit due to a severe hailstorm that struck Melbourne in December.
The Brisbane-based company said it expects to receive more than 21,000 claims across its insurance brands, including AAMI, with many of these claims relating to home and motor damage.
Following the flood of claims due to the Melbourne hailstorm, Suncorp said its total natural hazard claim costs for the half year ended December 31 are expected to be between $406 million and $416 million, which is $60 million to $70 million more than its half-year allowance,
The Sydney Morning Herald reported.
“We are focused on ensuring the safety of our customers and their families, as well as processing all claims as soon as possible to give customers peace of mind during the holiday season,” said
Michael Cameron, Suncorp chief executive.
In a statement, the insurer also assured that it remained well protected against future natural catastrophes.
Suncorp’s half-yearly results would be released on February 15, the report said.
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