Suncorp flags Melbourne hailstorm cost hit

January 08, 2018

Suncorp expects to receive up to $170 million worth of claims after Melbourne's December hail storm.

Suncorp has flagged a cost hit of between $160 and $170 million in its first-half results, following a flood of insurance claims relating to Melbourne's hailstorm in December.

The insurance giant expects to receive more than 21,000 claims from the hailstorm - mainly in relation to home and motor vehicle damage - across its insurance brands including AAMI, GIO, Suncorp, Apia, Shannons and Bingle.

Suncorp says its total natural hazard claim costs in Australian and New Zealand for the six months to December 31 is currently estimated to be between $406 million and $416 million, which is $60 million to $70 million above the allowance for the half.

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