Suncorp Group ( (AU:SUN) ) has provided an update.
Suncorp Group has reported receiving around 7,800 claims due to the impacts of ex-Tropical Cyclone Alfred in south-east Queensland and northern New South Wales. The majority of these claims are related to home damages, with over 2,100 claims for food spoilage. The company is actively supporting affected customers with claims processing and emergency assistance. Suncorp’s CEO emphasized the importance of customer safety and highlighted the company’s preparedness through its disaster management investments and comprehensive reinsurance program, which includes a maximum event retention of $350 million and catastrophe cover up to $6.75 billion.
More about Suncorp Group
Suncorp Group is a financial services company based in Australia, primarily focusing on insurance and banking services. The company operates in the Australian and New Zealand markets, providing a range of products including home, motor, and life insurance, as well as banking and wealth management services.
YTD Price Performance: 17.45%
Average Trading Volume: 5,337
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $12.75B
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