Australia's Suncorp Group <SUN.AX> said on Thursday that costs from the devastating bushfires, hailstorms and heavy rainfall across the country will likely be capped at A$300 million ($205 million) and stay within its full-year provision.
The insurer said its reinsurance program will help keep costs within its A$820 million full-year provision.
"This has been an unprecedented start to the bushfire and storm season in Australia," said Chief Executive Steve Johnston in a statement.
(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Sriraj Kalluvila)
