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Member, Beacon International Group, Ltd.
BRISBANE, Australia—Suncorp Group Ltd. said its gross claims from major natural hazard events between last September and the end of April totaled $3.44 billion Australian ($3.68 billion).
After reinsurance, the Brisbane, Australia-based insurer said Monday that its net costs from major natural hazards for the period were $517 million Australian ($552.4 million).
Suncorp said the February earthquake in Christchurch, New Zealand, resulted in gross costs of $1.6 billion Australian ($1.71 billion) and net costs of $46 million Australian ($49.2 million).
The earthquake near Christchurch last September resulted in gross claims of $490 million Australian ($523.6 million) and net costs of $46 million Australian, said Suncorp, which operates under the Vero brand in New Zealand.
Remaining losses include flooding and Cyclone Yasi in Australia.