Suncorp has a $200 million exposure to the Queensland cyclone

SES workers race to fill sand bags as residents prepare to defend their homes, as Cyclone Marcia approaches Central. Paul Beutel/Getty Images

The insurance arm of Suncorp has a maximum $200 million exposure to Queensland’s cyclone Marcia.

Gale force winds of up to 140 kms an hour have hit the Yeppoon area, north east of Rockhampton.

The group’s insurance brands include Suncorp, AAMI, Apia, GIO and Vero.

Reinsurance coverage will limit the financial impact of the cyclone to a maximum of
$200 million pre-tax.

Suncorp says it’s preparing to deploy its major claims event capabilities for Marcia.

Its shares are trading 1.3% down to $13.74.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.