Suncorp (ASX:SUN) has provided an update on the initial impacts of Ex-Tropical Cyclone Koji and bushfires in Victoria ahead of its H1 FY26 results on Feb. 18.
CEO Steve Johnston said the insurer's Mobile Disaster Response Hubs, customer support teams, assessors, and builders are ready to assist affected communities once safe.
He urged the public to prioritise safety, follow warnings, and avoid impacted areas, noting a tragic loss of life in Longwood, Victoria.
As of Jan. 11, Suncorp had received around 80 home and motor insurance claims from Cyclone Koji and 60 from Victorian bushfires.
The federal government's Cyclone Reinsurance Pool covers home and small business claims for damage occurring up to Jan. 13.
Johnston said the events had not yet caused material claims but ongoing severe weather—including strong winds, heavy rainfall, and flash flooding along the Queensland coast—continues to affect communities.
For 1H26, Suncorp expects natural hazard costs to reach $1.319 billion from a FY26 allowance of $1.77 billion, with nine events above $10 million.
Elevated claims will increase the risk adjustment by ~$35 million versus H1 FY25, affecting reported net claims but not the underlying margin.
Johnston highlighted the insurer's role in helping communities, citing more than 37,000 claims from recent hailstorms and the assessment of over 4,000 vehicles through pop-up hubs.
Suncorp expects H1 FY26 net investment income of ~$250 million, with an exit yield on insurance funds of 4.8%. The company confirmed no change to its FY26 outlook.