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SUN - SUNCORP GROUP LIMITED


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Expect SUN to take a severe beating tomorrow. Pouring rain and strong wind here on the Gold Coast at the moment ....... hang on, make that torrential rain and gale force winds !!!

 

Lucky to live on a hill and have electricity supply, many others struggling.

 

Cheers

J

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Suncorp on criticism.

 

http://www.theaustralian.com.au/business/b...f-1226567613892

 

Those who get cheap "insurance", those who don't read their policies, those who live in "at risk" areas, all feel aggrieved when a loss happens. I'm sure there are a few with a genuine grievance with an insurance company, but mostly, as in all things, you get what you pay for. If I remember rightly, Suncorp fared well in satisfaction last time round, with a few other companies being severely criticised.

 

If the government wants to step in, and all pollies like to jump on a bandwagon, then they would have to underwrite the insurance companies. Can't see them being keen on that, just keen on a few cheap cheers.

 

The insurance industry is competitive enough to keep itself pretty honest, and consumers need to realise that good coverage will cost good money.

 

Cheers

J

 

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  • 2 years later...

Suncorp Chairman Ziggy Switkowski said the GroupÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s strong capital position and improved financial performance has allowed the Board to declare a final ordinary dividend of 38 cents per share and a special dividend of 12 cents per share

 

Suncorp (SUN), will pay out 100% of its 2014-15 profits, the group revealed in todayÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s profit statement and accounts.

 

man!! you've got to give this CEO a thumb up!! :o

 

 

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  • 3 years later...

Major insurer Suncorp vows to stop covering thermal coal projects

 

The latest announcement means there are now no Australian insurers willing to underwrite new thermal coal projects, experts and advocates say.

 

Insurance giant Suncorp has announced it will have no dealings with the thermal coal sector by 2025, leaving Australia with no major insurers willing to cover new thermal coal mines and power stations into the future, according to experts.

 

The company said on Friday that they do not "directly invest in, finance or underwrite new thermal coal mining extraction projects or new thermal coal electricity generation" and they will "phase out these exposers by 2025."

 

Suncorp added that its insurance and investment portfolio exposure to fossil fuels was already at just 0.5 per cent, but that it was working toward a full exit.

https://www.sbs.com.au/news/major-insurer-s...l-coal-projects

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  • 1 year later...

Insurers dodge COVID bullet.

 

While the court rejected one interpretation of the exclusion clause put, and therefore answered the discrete question put to it as ‘no’, the Court also rejected the insured’s narrow interpretation, and accepted Suncorp’s argument that the exclusion applied broadly for losses connected with COVID-19.

In light of this favourable outcome, Suncorp believes that its overall reserving continues to be adequate. It is important to note that valuations do not take account of the potential for further COVID-19 lockdowns, as well as any unexpected outcomes from future litigation including any industry test cases.

 

Background

The insured commenced proceedings following the decline of a claim under its business interruption policy for COVID-19 pandemic related losses. A discrete question concerning the proper construction of the exclusion clause was referred to the Full Federal Court.

The exclusion clause in the particular Suncorp policy excluded cover for “any claim that is directly or indirectly caused by or arises from, or is in consequence of or contributed by highly pathogenic Avian influenza or any biosecurity emergency or human biosecurity emergency declared under the Biosecurity Act 2015 (Cth), its subsequent amendments or successor, irrespective of whether discovered at the premises of the breakout or elsewhere.â€

The Court found that the exclusion clause will operate where a human biosecurity emergency has been declared to exist, and a business has been shut down by government order as a response to that emergency, whether Federal, State or Local. The Court held the exclusion would apply even where the connection between the emergency and the claim was remote and was only ‘a’ cause of the claim.

 

Cheers

J

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  • 7 months later...

SUN had a nice result announcement. No huge disasters this year, so good to see them paying out the maximum. Got a few more of these than I should have, for various reasons, so happy today. ?

 

Cheers

J

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  • 2 months later...

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