Suncorp Group's 1H hazard allowance was for $580m and the group revealed actual costs of -$470-530m for the first four months of the financial year.

Morgans now forecasts 1H hazard losses will exceed the allowance by -$75m though expects this will be offset by claims trailing below budget for a similar amount in the 2H, due to strong protection from reinsurance.

The Add rating and $13.70 target are unchanged.

Sector: Insurance.

Target price is $13.70.Current Price is $11.73. Difference: $1.97 - (brackets indicate current price is over target). If SUN meets the Morgans target it will return approximately 14% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2022 Acquisdata Pty Ltd., source FN Arena