June 30, 2020 / 11:45 PM / 5 days ago

BRIEF-Suncorp Sees FY21 Natural Hazard Allowance To Rise By A$90-A$130 Mln

July 1 (Reuters) - Suncorp Group Ltd:

* FY21 NATURAL HAZARD ALLOWANCE IS EXPECTED TO INCREASE BY $90 MILLION TO $130 MILLION

* COVID-19 IMPACT ON GROUP FY20 P&L EXPECTED TO BE BROADLY NEUTRAL, EXCLUDING INVESTMENT MARKET MOVEMENTS AND BANK IMPAIRMENT LOSSES

* FY21 NATURAL HAZARD ALLOWANCE IS EXPECTED TO INCREASE BY $90 MILLION TO $130 MILLION

* ANNOUNCES APPOINTMENT OF NEW BANKING & WEALTH CEO, CLIVE VAN HOREN

* FY21 MAIN CATASTROPHE REINSURANCE PROGRAM FINALISED WITH SIMILAR STRUCTURE TO PREVIOUS YEARS

* CEO INSURANCE (AUSTRALIA), GARY DRANSFIELD, WILL LEAVE SUNCORP

* FY20 UPPER LIMIT ON MAIN CATASTROPHE PROGRAM IS $6.5 BILLION

* LISA HARRISON APPOINTED CHIEF EXECUTIVE OFFICER INSURANCE PRODUCT & PORTFOLIO

* TO COMBINE NUMBER OF INSURANCE (AUSTRALIA) AND GROUP FUNCTIONS TO CREATE MORE STREAMLINED ORGANISATION

* SUNCORP NEW ZEALAND CFO JIMMY HIGGINS WILL LEAD SUNCORP NEW ZEALAND BUSINESS IN ACTING CAPACITY Source text for Eikon: Further company coverage:

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