"makes provisions for natural hazards and has an allowance of $520 million for events in the 2013 financial year. For the six months to 31 December 2012, Suncorp’s total natural hazard claims were $147 million.
Suncorp also has a comprehensive reinsurance program to limit the financial impact of natural hazard events. In addition, the Queensland home portfolio is covered by a 30% proportional quota share arrangement"
this stock is such a gamble hey?
you could never predict whether you were going to have an extreme weather event such as a bushfire and a flood
But interestingly they have $373m allowance left and 30% of the home portfolio is cover by reinsurance.
will that be enough?
Market seems to be saying it might only reduce profits by 3%.
At least that is my take on it. What's your view?
reporting date feb 20
the floods won't appear on this years statement. Any guidance for next year will be interesting hey?
Ann: Qld and NSW Flood Update , page-2
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