Suncorp expects up to $263 million in natural hazard claims

Australian insurer Suncorp Group Ltd. expects up to 410 million Australian ($263 million) in claims for damage relating to several weather events in the country, Reuters reported. Suncorp, which has set aside a natural hazard allowance of AUD1.16 billion for the 2023 financial year, had received over 13,000 claims as of October, relating to five events since July 1.