Suncorp handed reinsurers A$1bn cat bill in FY20, sees “neutral” Covid impact

Steve Johnston – Suncorp

Suncorp passed A$1bn ($720mn) of claims to its reinsurers during its 2019/20 financial year while the company has detailed how lower motor claims due to Covid-19 ware expected to outweigh the impact of reduced premium and potential losses from the pandemic by some A$20mn in its insurance operations.

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