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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
0.060(0.71%) |
Mkt cap ! $18.29B | |||
| Open | High | Low | Value | Volume |
| $8.44 | $8.53 | $8.35 | $46.13M | 5.429M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5930 | $8.48 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.54 | 152699 | 5 |
View Market Depth
| Last trade - 16.10pm 29/11/2024 (20 minute delay) ? |
| IAG (ASX) Chart |
