Suncorp advises on APRA general insurance statistics

Insurer says the statistics do not include the valuation of its insurance portfolio

Suncorp advises on APRA general insurance statistics

Insurance News

By Krizzel Canlas

The Suncorp Group has advised its investors and policyholders on the recently published Quarterly General Insurance Institution-Level Statistics publication by the Australian Prudential Regulation Authority (APRA).

The publication, based on regulatory filings for the quarter ended September 2017, includes statistics for AAI Limited, a wholly-owned subsidiary of Suncorp.

Suncorp said the statistics do not include the impact to the profit loss statement of a number of adjustments, most notably the valuation of the group’s insurance portfolio.

“Those valuations are conducted on a half-yearly basis and are included in Suncorp’s regular financial disclosures,” Suncorp said. “In addition, the APRA quarterly disclosures do not include the consolidation of the profit & loss of Suncorp’s subsidiary general insurance entities.”

Suncorp will release its financial results for the six months ended December 2017 on February 15.

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