IAG and Suncorp hit with 8,000+ claims from NZ floods; reinsurance to cap losses

Published: Tue 5 Sep 2023

Insurance Australia Group (IAG) and Suncorp Group have cumulatively received over 8,000 claims following severe storms and flooding in and around New Zealand’s biggest city, Auckland, with both insurers moving to reassure investors that losses will be capped under reinsurance.