Sydney hailstorm to cost Suncorp nearly $130 million

Posted On: Mar. 7, 2017 5:00 AM CST

Australian insurer Suncorp Group Ltd. has said that the hailstorm which hit Sydney on Feb. 18 is likely to cost the insurer up to $170 million Australia ($129 million), The Courier Mail reported. The hailstorm has triggered almost 11,000 claims and pushed Suncorp's disaster bill to between AUD 610 million and AUD 630 million for the eight months from July 2016 to February 2017.