The $NZ34 million ($32.76 million) sale of Suncorp’s New Zealand motor insurance business Autosure will help offset impacts from earthquake claims before the release of its half-year results next week.

The sale to car dealer Turners will give Suncorp New Zealand a post-tax loss on disposal of $25 million, and will be accretive to long-term return on equity.

Suncorp New Zealand will continue to underwrite Autosure, as well as Mainstream and other Turners-controlled brands.

Further Canterbury quake claims are expected to affect the group’s results by $NZ18 million ($17.34 million), while the November 14 Kaikoura earthquake will have a net impact of $NZ50 million ($48.19 million).

For the six months to December 31 natural hazard claims costs in Australia and New Zealand are estimated at $350 million, $40 million above the natural hazard allowance of $310 million.

This includes $60 million for SA and Victorian storms in November, $50 million for storms in the same states last month and $NZ50 million ($48.19 million) for the Kaikoura quake.

Suncorp Group will present its half-year results on Thursday next week.