After reviewing potential economic losses as a result of the earthquake that struck Victoria, Ord Minnett believes the overall cost is likely to be around -US$100m. The broker doesn't adjust any of its forecasts.
The analyst considers Suncorp Group ((SUN)) would have greater risk than Insurance Australia Group ((IAG)) or QBE Insurance Group if it is a large event, via its higher maximum event retention. The Accumulate rating and $14.55 target price are retained.
Sector: Insurance.
Target price is $14.55.Current Price is $11.49. Difference: $3.06 - (brackets indicate current price is over target). If QBE meets the Ord Minnett target it will return approximately 21% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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