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Credit Suisse has downgraded the earnings forecasts for the two largest insurers in Queensland.
Suncorp and Insurance Australia Group Ltd (ASX:IAG) have been adjusted because of increasing reinsurance costs.
Full year earnings forecasts for IAG have been downgraded by 3 - 4 per cent, while full year earnings for Suncorp have dropped 11 percent.
On Wednesday Suncorp said it may incur additional reinsurance costs of around $120 million. Suncorp has the biggest exposure to Queensland's floods.
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Last
$8.53 |
Change
0.020(0.24%) |
Mkt cap ! $18.29B | |||
| Open | High | Low | Value | Volume |
| $8.65 | $8.65 | $8.49 | $36.41M | 4.259M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 56526 | $8.53 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.54 | 79569 | 3 |
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| Last trade - 16.10pm 03/12/2024 (20 minute delay) ? |
| IAG (ASX) Chart |
