** Australian insurers gain after Cyclone Alfred gets downgraded to a "tropical low" on Saturday
** Suncorp SUN.AX gains as much as 4% to hit A$19.48, most since February 20
** QBE Insurance QBE.AX gains 1.5%, while Insurance Australia Group IAG.AX up 1.2%
** Australian insurance had reinsurance programmes in place in preparation of the Cyclone making landfall
(Reporting by Nichiket Sunil in Bengaluru)
((Nichiket.Sunil@thomsonreuters.com;))
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