Taking into account the breadth and depth of the Victorian lockdown, the Group now expects to recognise a further $125 million (pre-tax) provision for potential Business Interruption claims for the first half of the FY21 financial year, assuming no further material Covid-19 outbreaks.
This will take the Group’s total provision for potential BI claims in relation to Covid-19 to $195 million (pre-tax).
Shares in Suncorp (ASX:SUN) are trading 0.98 per cent higher at $9.25.