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Suncorp Group Limited (ASX:SUN) has received approximately 23 thousand claims from customers affected by Ex-Tropical Cyclone Oswald in Queensland and New South Wales.
The insurer says its 30 per cent quota share arrangement will limit the net cost of claims to between $200 and $220 million.
Personal insurance CEO Mark Milliner says Suncorp already has assessors visiting homes and builders commencing re-construction work.
Suncorp has an allowance of $520 million for natural hazard events in fiscal 2013.
Suncorp posted a net profit of $728 million in the 2012 financial year.
News: Suncorp's Oswald fallout begins
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$19.63 |
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Mkt cap ! $23.46B | |||
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