2343 GMT - Insurance Australia Group appears to be better positioned than rival Suncorp in relation to claims from the recent ex-tropical cyclone that hit the country's east coast, according toGoldman Sachs analysts. They tell clients that while more claims are expected to flow from New South Wales state, it's possible that the Australian government's reinsurance program could leave IAG with claims costs within its maximum event retention. IAG has flagged 2,500 early claims, compared with about 7,800 at Suncorp. The government program could provide substantial protection for insurers, they add. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 11, 2025 19:43 ET (23:43 GMT)
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