Suncorp says minor A$32mn reinsurance claim eased renewal
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Suncorp says minor A$32mn reinsurance claim eased renewal

Fiona Robertson
09 August 2021
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Suncorp made an A$32mn ($23.5mn) recovery from its excess-of-loss reinsurance covers in the fiscal year to 30 June, crediting the low levels of claims as a factor in its smoother than expected renewal.

The Australian insurer said it had used its reinsurance on only one event this year, as it experienced a significant number of smaller events than in its 2020 fiscal year.

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