Suncorp: A$456-561mn of agg deductible eroded as late Oct hail losses tallied

Suncorp estimates it has already eroded A$456mn ($340mn) to A$561mn of the A$650mn retention on it’s A$400mn aggregate excess of loss treaty (AXL) while the company has also revealed it is facing estimated losses of A$225mn to A$250mn from the late October hail and wind event that struck South Australia, Victoria and Tasmania.