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 or QBE Insurance Group ((QBE)) if it is a large event, via its higher maximum event retention. The Accumulate rating and $5.35 target price are retained.
Target price is $5.35.Current Price is $4.87. Difference: $0.48 - (brackets indicate current price is over target). If IAG meets the Ord Minnett target it will return approximately 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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