Suncorp likely to call on aggregate reinsurance layer for losses from cyclone Debbie

Australian insurer Suncorp Group Ltd. is likely to call on its aggregate reinsurance layer of $300 million Australia ($230 million) for losses incurred from claims it expects from cyclone Debbie, Artemis.bm reported. The cyclone is expected to strike Australia's North Queensland coast on March 28. The insurer said that it has eroded its entire retention layer of AUD 460 million and any further losses could fall to reinsurers participating in its aggregate program as well as to its main catastrophe program.

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