Suncorp Group
(ASX:SUN) says margins are being squeezed by the lower Aussie dollar and a record run of natural hazard events.
Up to $4 billion worth of weather events in 2015 have seen costs soar and this will impact on underlying margin in the personal insurance business.
Coupled with higher than expected commercial losses and increased CTP claims Suncorp says it now expects underlying the Insurance Trading Ratio to be around 10 per cent for the first half of the 2016 financial year.
Suncorp reported a net profit of $1.14 billion for the 2015 financial year.
