Suncorp Group Provides FY25 Reinsurance Program Update
July 5 (Reuters) -Suncorp Group Ltd SUN.AX:
FY25 REINSURANCE PROGRAM UPDATE
COST OF FY25 CATASTROPHE REINSURANCE PROGRAM EXPECTED TO BE BROADLY IN LINE WITH FY24
SUNCORP MAINTAINS ITS MAXIMUM EVENT RETENTION OF A$350 MILLION FOR A FIRST LARGE EVENT AND A$250 MILLION FOR A SECOND LARGE EVENT
NATURAL HAZARD ALLOWANCE FOR FY25 IS EXPECTED TO INCREASE TO A$1.565 BILLION
FY25 REINSURANCE PROGRAM CHANGES HAVE NO MATERIAL IMPACT ON TARGET CAPITAL FOR GROUP
CONTINUES TO EXPECT FY24 UNDERLYING MARGINS TO BE AROUND MIDDLE OF 10% TO 12% RANGE
Further company coverage: SUN.AX
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