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(Reuters) -Australian general insurer Suncorp on Tuesday forecast a 12% jump in costs associated with catastrophe reinsurance premiums and natural hazards in fiscal 2024 on the back of adverse weather events through the La Niña cycle in recent years.
It now sees the natural hazard allowance for fiscal 2024 to increase to A$1.36 billion ($907.4 million), as compared with A$1.16 billion set aside for fiscal 2023, Suncorp said.
Wild weather swings in Australia and New Zealand in the last coupl...
>>> Read more: Australia's Suncorp forecasts rise in FY24 natural hazard costs amid La Niña
It now sees the natural hazard allowance for fiscal 2024 to increase to A$1.36 billion ($907.4 million), as compared with A$1.16 billion set aside for fiscal 2023, Suncorp said.
Wild weather swings in Australia and New Zealand in the last coupl...
>>> Read more: Australia's Suncorp forecasts rise in FY24 natural hazard costs amid La Niña
