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GLRE - Storms Erode 55% Of Suncorp's Aggregate Reinsurance Deductible
Greenlight Reinsurance Ltd.
Suncorp said today that its catastrophe losses for the first half of its financial year, to the end of December 2020, reached $516 million.
Suncorp has a strong reinsurance program in place, with its main catastrophe program and aggregate protection, as well as 3 drop-down covers and reinstatements.
The full-year natural hazard allowance is set at $950 million, equally spread across the first and second-half of the year.