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Insured losses from April & May storms in Australia pass $1.55bn

The Insurance Council of Australia has confirmed that severe storms that struck parts of the country in April and May have caused over AUD$1.55 billion of insurance industry losses. These storm  losses have caused at least two ILS funds to reserve for potential reinsurance claims.Australia saw a number of severe read the full article →

Some ILS funds suffer NAV impact from Australian storms

A number of ILS or reinsurance linked investment funds have seen small impacts to their net asset value (NAV) in April, due to the severe east-coast low pressure system and hailstorm that impacted the New South Wales and Sydney area in April.Artemis wrote at the time that these events, while read the full article →

Catastrophe losses rising in Australia, ICA declares fifth cat of 2015

Insurance industry losses from severe weather events deemed catastrophes in Australia continue to rise, with a fifth event for 2015 being added thanks to another severe east coast storm that impacted Queensland and New South Wales.The Insurance Council of Australia has declared the latest storm that occurred between April 30th read the full article →

Suncorp losses to add to reinsurance hit from New South Wales storms

Suncorp is the second major Australian primary insurer to reveal a growing impact from the recent east coast low pressure storm system that affected New South Wales, Australia and to say it expects to call on its reinsurance as a result of mounting 2015 catastrophe claims.Yesterday, IAG announced that the read the full article →

IAG reveals reinsurance hit from New South Wales storm losses

Australian primary insurance group IAG has revealed that its losses alone from the recent east coast low pressure storm system that affected the New South Wales Australia region, particularly Sydney, are likely to near the current industry loss estimate.The insurance industry loss estimate had reached AUD$295m yesterday, according to the read the full article →

New South Wales insured loss up another 21% to AUD$295m

The insurance industry losses from the recent east coast low pressure storm system that affected the New South Wales Australia region, particularly Sydney area, have risen by another 21% to now reach AUD$295m, according to the ICA.Today's check on the tally of claims has seen another rise, to 41,500 reported read the full article →

New South Wales storm insurance industry loss hits AUD$244m

The insurance industry loss estimate from the recent east coast low pressure storm system that affected the New South Wales Australia region, particularly Sydney area, has risen again to hit AUD$244m, according to the ICA.Update: The industry loss estimate rose to AUD$295m.The Insurance Council of Australia initially reported the value read the full article →

New South Wales storm insured losses up again to AUD$201m

The insurance industry loss estimate for the New South Wales, Australia east coast low pressure storm, that affected the region, particularly Sydney, in recent days, has risen again to reach AUD$201m, according to the ICA.Update: The industry loss estimate rose to AUD$295m.The Insurance Council of Australia first reported the value read the full article →

Sydney NSW storm insured losses rise to AUD$161m

As expected the insurance industry loss estimate for the east coast low pressure storm that has affected New South Wales, Australia, particularly the Sydney area, has risen overnight, from the AUD$129m reported yesterday to now stand at AUD$161m.Update: The industry loss estimate rose to AUD$295m.Another 4,750 claims have been reported, read the full article →

Sydney NSW storm insured loss estimate AUD$129m, expected to rise

Industry insured losses from the east coast low pressure storm that has affected New South Wales, Australia, particularly the Sydney area, are estimated to have reached $129m but could have much further to rise, according to reports.Update: The industry loss estimate rose to AUD$244m.The Insurance Council of Australia reported that read the full article →