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The combined cost of fiscal 2024 catastrophe reinsurance premiums and the natural hazard allowance is forecast to increase by 12% to A$1.36 billion as compared with last year, Suncorp said.
Group natural hazard experience for fiscal 2023 is expected between A$1.25 billion ($833.75 million) and A$1.28 billion against a previous allowance of A$1.16 billion, the company added.
($1 = 1.4993 Australian dollars)
