Suncorp's outstanding Canterbury quake claims costs rise, expects $50M of Kaikoura claims

Mon, 23 Jan 2017

By Paul McBeth Jan. 23 (BusinessDesk) - Suncorp Group, which owns general insurer Vero in New Zealand, has increased its outstanding claims provision for the 2010 and 2011 Canterbury earthquakes after getting new claims from the Earthquake Commission. Separately the insurer released a claims estimate from last November's temblor in Kaikoura. Brisbane-based Suncorp lifted its provisioning for outstanding Canterbury quake claims by $112 million, most of which will be covered by the insurer's reinsurance programme, leaving it a net cost of...

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