More News

Insurance

Staff Reporter

, Australia

Published:

4 years ago

Australia's Suncorp to lose $87m due to COVID-19

The pandemic has had a negative effect on gross written premiums.

Australian insurer Suncorp is expecting to take a $87m (A$133m) hit due to the coronavirus pandemic, reports Reuters.

The loss is partly brought about by the adverse impact on gross written premiums.

Group CEO Steve Johnson said the insurer has already granted discounts and premium waivers to 12,300 clients in Australia and New Zealand and has authorised $2.65b (A$4.05b) in loan deferrals.

Group costs for this year are estimated to be slightly above $1.76b (A$2.7b), including pay and leave entitlements remediation to some employees.

Here’s more from Reuters.

Also Read

HSBC Life Singapore unveils universal life plan for affluent clients

Manulife expands in Macau with new YOHO Group lease

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

HSBC Life Singapore unveils universal life plan for affluent clients

It offers both life insurance and investments.

Insurance

2 hours ago

Manulife expands in Macau with new YOHO Group lease

It is a multi-year lease for a 64,000 sq ft space.

Insurance

8 hours ago

SG’s life insurers see 32.2% leap in new business premiums in Q1’24

This is equivalent to S$1.4b.

Insurance

8 hours ago

Crawford GTS reels new leader

Matt Donnelly carries more than 30 years of experience in the industry.

Insurance

9 hours ago

Exclusives

Pressures mount for less desirable energy insurance placements

Industry experts eye offshore investments as most attractive, yet more expensive.

Insurance

5 days ago

Markel targets professional indemnity market in Australia

Head of professional and financial risks, Kym Beazleigh, explains the game plan in Markel’s strategic expansion.

Insurance

Natural disasters steer Asia Pacific towards parametric insurance

Swiss Re gives importance to parametric insurance amidst challenges like basis risk and modelling complexities.

Insurance

AXA Mandiri’s Shariah insurance fosters mutual assistance amongst participants

Risks are shared and covered collectively by all Participants (Takaful) to mutually help one another.

Insurance

Event News

Proactive dialogue with regulators, embracing tech advancements are key to preemptive compliance – EY's Anita Sun-Young Bong

Co-Written / Partner

The EY Partner reiterated that though innovation carries inherent risks, balancing it with risk management through crisis simulation systems ensures sustainable progress.

Co-Written / Partner Insurance fraud prevention with SAS: Strengthen today's strategies with tomorrow's solutions

Co-Written / Partner Make sure you don’t miss the Insurance Asia Forum in Kuala Lumpur

Co-Written / Partner Insurance Asia Forum 2024 convenes in Jakarta to shape the future of insurance

Co-Written / Partner Proactive dialogue with regulators, embracing tech advancements are key to preemptive compliance – EY's Anita Sun-Young Bong

The EY Partner reiterated that though innovation carries inherent risks, balancing it with risk management through crisis simulation systems ensures sustainable progress.