6 January 2012
MELBOURNE AND CHRISTCHURCH CLAIMS UPDATE
Suncorp Group Limited (Suncorp) today provided preliminary
estimates of the financial impacts of the recent Melbourne
hailstorm and Christchurch earthquake.
Both events occurred over the Christmas holiday period,
impacting claims lodgement and assessment. Therefore, the
expected financial impacts may vary as claims are
finalised.
The Melbourne hailstorm on 25 December 2011 caused widespread
damage across residential areas in the city's northern
suburbs and is expected to cost $200 million to $250 million.
Suncorp's reinsurance arrangements provide protection should
the cost of this event exceed $250 million.
Around 28,000 claims have been received across Suncorp's
personal and commercial insurance brands to date, with about
two-thirds of these being for damage to vehicles and the
remainder for other property damage.
The Christchurch earthquake on 23 December 2011 is expected
to cost between A$10 million (NZ$13 million) and A$20 million
(NZ$26 million).
Suncorp expects its natural hazard costs for the six months
to 31 December 2011 to be in the range of $360 million and
$420 million. This is $120 million to $180 million above
the
$240 million natural hazard allowance for the period.
Group chief executive Patrick Snowball said the priority at
this stage was assisting customers and Suncorp's major claims
event capabilities had been activated to ensure this
occurred.
Additional claims and assessing resources, including mobile
customer response teams, have been mobilised and mass
assessment centres have been set up to fast-track the process
of repairing hail damaged cars in Melbourne.
Any Suncorp customers who have not yet lodged a claim due to
the holiday period are encouraged to do so as quickly as
possible.
Suncorp's half year results announcement will be held on 22
February 2012.
For more information contact:
Media: | Jamin Smith, (07) 3135 4321 |
Analysts/Investors: | Mark Ley, (07) 3135 3991 |
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Suncorp Group Ltd- ABN 66 145 290 124 - GPO Box 1453, Brisbane QLD 4001 www.suncorpgroup.com.au
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Documents associés | |
Melbourne and Christchurch Claims Update |