IAG, Suncorp count Sydney hailstorm cost

Australia's IAG and Suncorp on Monday gave
updates indicating that the hailstorm which struck Northern Sydney
last month would cost the two insurers together well over A$300mn
($227.9mn).
IAG said it has received more than 20,000
claims as a result of the 18 February event, with claims still
coming in.
While acknowledging uncertainty about the
eventual net cost it estimated that this could be A$160mn.
After allowing for reinsurance, it expects its
maximum exposure to be a net A$200mn.
As...