Suncorp Group: BI top up mitigated by lower claims frequency

By Richard Coles

17 November 2020, 3:30 PM

Management expects COVID-19 impacts on Suncorp Group's (ASX:SUN) insurance business to be broadly neutral in 1H21, with an extra provision top-up for business interruption (BI) risks being offset by lower claims frequency. The SUN bank saw a strong credit quality performance in 1Q21 with impairment losses of just A$3m for the quarter.

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