The insurance company Suncorp has received just over 5,500 claims, around 5,000 in Queensland and 500 in Victoria, with the net cost of the event expected to fall between $220 million and $260 million, with these estimates remaining preliminary, and final figures to be confirmed as part of the first half FY26 results.
“Our Disaster Management Centre is in full swing and we have been proactively communicating with our customers to offer support and assistance, while our mobile hubs have been deployed to the hardest hit areas.
“We have also rapidly deployed teams to inspect impacted properties while our builders have been working to secure roofs and windows to prevent further damage while repairs are planned.
“We encourage those impacted to lodge a claim online as soon as possible so that we can commence the process of getting their homes and cars repaired.”
Suncorp’s FY26 natural hazard allowance remains at $1,770 million, supported by a comprehensive reinsurance programme.
The company also confirmed that CEO Steve Johnston and the Executive Leadership Team will today host an investor day to outline strategic priorities for the business as it continues its focus as a pure-play insurer.
Johnston said the company’s investor day would outline Suncorp’s next phase of growth as a dedicated insurance business, with an emphasis on transformation through technology, modern platforms, and improved data to create simpler and more personalised customer experiences.
The leadership team will present updates on the group’s multi-brand strategy, commercial growth agenda, and progress across platform modernisation and operational transformation programs. An update on Suncorp’s advocacy initiatives will also be provided.
“We have been investing in the modernisation of our platforms and advancing our deployment of technologies such as AI to transform operations and build a more efficient customer-centric business.”
Johnston added that the benefits of AI would be felt most directly by customers.”We see AI as a key tool in delivering more personalised and affordable insurance products.
“We are also showcasing our market leading suite of brands which have been positioned to allow Suncorp to reach a broader cross section of the Australian and New Zealand markets.
“Importantly, we are able to make all these investments without compromising margins or sustainable shareholder returns, reflecting the strong foundations we have built over the past five years. We are now a simpler, more resilient and focused business with improved data and digital capabilities.”
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