Building services company the Johns Lyng Group (ASX:JLG) has entered into an exclusive Master Services Agreement with Suncorp Group (ASX:SUN), for them to facilitate all domestic property repairs for insurance claims estimated at greater than $100,000.
The Agreement is for a minimum two-year term, with provision for a further third.
It follows a successful trial period conducted earlier this year, and covers both business-as-usual claims, and claims made during peak events such as storms and floods.
The company has also signed a new contract with Yarra Ranges City Council in Melbourne, for a $26 million redevelopment of the Yarra Ranges Civic Centre.
Shares in Johns Lyng Group (ASX:JLG) are up 12.88 per cent to $0.92.