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SUN, SUNCORP-METWAY LIMITED
henrietta
post Posted: Dec 22 2020, 10:48 AM
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Insurers dodge COVID bullet.

QUOTE
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 insureds narrow interpretation, and accepted Suncorps 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.


QUOTE
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.
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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"Sometimes I sits and thinks, and sometimes I just sits." Satchel Paige

"No road is long with good company." Traditional
 
blacksheep
post Posted: Jul 27 2019, 02:18 PM
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Major insurer Suncorp vows to stop covering thermal coal projects

QUOTE
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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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
early birds
post Posted: Aug 4 2015, 10:53 AM
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Suncorp Chairman Ziggy Switkowski said the Group’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 today’s profit statement and accounts.

man!! you've got to give this CEO a thumb up!! ohmy.gif



 
henrietta
post Posted: Feb 3 2013, 03:19 PM
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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




--------------------
"Sometimes I sits and thinks, and sometimes I just sits." Satchel Paige

"No road is long with good company." Traditional
 
henrietta
post Posted: Jan 28 2013, 12:37 PM
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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



--------------------
"Sometimes I sits and thinks, and sometimes I just sits." Satchel Paige

"No road is long with good company." Traditional
 
henrietta
post Posted: Aug 22 2012, 09:27 AM
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Good result this year, and a bonus dividend ..... Nice !
Cheers
J



--------------------
"Sometimes I sits and thinks, and sometimes I just sits." Satchel Paige

"No road is long with good company." Traditional
 


henrietta
post Posted: Aug 31 2011, 10:34 PM
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In Reply To: DJB1974's post @ Aug 31 2011, 10:08 PM

Hi DJB

Books closed on 2 Sep for dividend, and will be paid on 3 Oct , so that in itself isn't the reason for the leap forward. The fact that the company has managed to weather the last disastrous year and still managed a fair profit would have been positive. The dividend has also been increased , in anticipation of a much better year to come. And finally, there's the prospect of a " capital return " , which didn't happen this time round as they wanted to keep some reserves after the last bad year.

There has also been a little bit of speculation about splitting the company , bank and insurance , but it's only rumour ...... so far !!!

I get the feeling that generally, the company is seen to have managed the last year of unprecedented disasters pretty well , and there's a bit of confidence again.

Cheers
J



--------------------
"Sometimes I sits and thinks, and sometimes I just sits." Satchel Paige

"No road is long with good company." Traditional
 
DJB1974
post Posted: Aug 31 2011, 10:08 PM
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In Reply To: henrietta's post @ Aug 31 2011, 01:06 PM

its nice to see it go up, but for how long will be the question, i got a few of these and its only a small profit so far, $600ish, but do u jump off now happy with that or wait till you get the sell signal from the charts and hope you dont miss the boat. tomorrow will be interesting to see where it opens and what happend to it from there, i couldnt find any reason either as to why the jump up, is it due to pay Dividends or something?

 
henrietta
post Posted: Aug 31 2011, 01:06 PM
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On the 9th of this month, SUN bottomed at $6.03, day end of $6.61. Today it is around $8.12. That's either 23% or 34% rise depending on your starting point.

So what has happened ? No nasty surprises in the EOY report would have helped, but surely there's something going on.

Any suggestions ?

Cheers
J



--------------------
"Sometimes I sits and thinks, and sometimes I just sits." Satchel Paige

"No road is long with good company." Traditional
 
henrietta
post Posted: Feb 16 2011, 10:00 AM
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Posts: 4,504
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Is SUN beginning a bit of a comeback ? Showing some strength.

Cheers
J



--------------------
"Sometimes I sits and thinks, and sometimes I just sits." Satchel Paige

"No road is long with good company." Traditional
 
 


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