Suncorp highlights lower second-event NZ retention after Gabrielle damage
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Suncorp highlights lower second-event NZ retention after Gabrielle damage

Fiona Robertson
15 February 2023
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In the aftermath of major flooding caused by Cyclone Gabrielle in New Zealand, Australian carrier Suncorp has said that the retained cost of any second declared event in the country will be NZ$25mn ($15.7mn).

The statement came as the carrier also capped losses from earlier flooding in Auckland at NZ$50mn, net of reinsurance cover.

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Claims and losses Suncorp
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Fiona Robertson
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