February 14, 2018 / 9:43 PM / 9 months ago

Australia's Suncorp says HY net profit falls as claim payouts jump

Feb 15 (Reuters) - Australia’s biggest general insurer Suncorp Group Ltd reported a 16 percent fall in half year net profit on Thursday, as it experienced a spike in claims following a hailstorm in Victoria in December and higher compliance costs.

Net profit came in at A$452 million ($358.48 million) for the six months to Dec. 31, falling short of the average analyst forecast of about A$486 million, according to Thomson Reuters I/B/E/S.

The Brisbane-headquartered company maintained its interim dividend at 33 Australian cents per share.

$1 = 1.2609 Australian dollars Reporting by Aaron Saldanha in Bengaluru; Editing by Byron Kaye and Andrew Heavens

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