TPRE - Suncorp Reveals Bushfire Losses Drop-Down And Aggregate Reinsurance At Risk
Australian primary insurance giant Suncorp (SNMCY) is the latest to provide an update on its losses from the ongoing bushfire disaster in the country, saying that it currently counts losses of up to $345 million but notes that it has drop-down and aggregate reinsurance that could come into play.
Market losses from the Australian bushfires reached A$700 million as of January 7th, with that figure expected to increase, perhaps significantly, in the coming days.
Fellow Australian primary insurance giant IAG had already reported that the ongoing bushfires in Australia triggered its aggregate reinsurance