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Severe storms in Australia and New Zealand caused $1.3 billion in Suncorp insurance payouts, exceeding expectations by $453 million.
Severe thunderstorms and massive hailstorms across eastern Australia and New Zealand in late October and mid-November triggered 71,000 natural hazard claims, leading to $1.3 billion in insurance payouts for Suncorp—$453 million above its expected allowance.
A November 25 storm in southeast Queensland, with hail up to 9 centimeters in diameter, caused $542 million in claims, making it one of the insurer’s costliest events.
Another storm on October 25 led to $358 million in payouts.
Hail damage accounted for 26,400 claims and $708 million in losses, primarily to vehicles and property.
The surge in claims significantly impacted Suncorp’s interim earnings.
Las tormentas severas en Australia y Nueva Zelanda causaron $1.3 mil millones en pagos de seguros de Suncorp, superando las expectativas en $453 millones.