PERILS reduces Queensland & New South Wales SCS industry loss to AU $2.943bn

Catastrophe data aggregator PERILS has updated its estimate of insurance industry losses for the severe convective storms (SCS) that impacted Queensland and New South Wales between November 21st to 27th, 2025, slightly lowering the total to AU $2.943 billion.

PERILS published its initial industry loss estimate for these severe convective storms back in January, putting the total at AU $2.663 billion.

The company then published its second industry loss estimate in late February, three months after the event end date, lifting the total almost 11% to AU $2.95 billion.

Now in its third insurance industry loss estimate for these severe convective storms, PERILS has slightly decreased the total to AU $2.943 billion.

PERILS noted that its loss estimate is based on data gathered from impacted insurers, including losses from property and motor hull lines of business.

“Severe convective storms (SCS) impacted Australia’s east coast from 21 to 27 November 2025, bringing widespread hail, damaging winds, and heavy rainfall across a broad area from Brisbane in South East Queensland down to Sydney in New South Wales. The most significant activity occurred during the afternoon and early evening of 24 November, when South East Queensland was hit by hailstones reaching up to 14 cm in diameter,” PERILS explained.

PERILS’ data shows that personal lines property losses represent 67% of the total loss, while commercial lines property losses represent 21%, followed by motor losses at 12%.

The event primarily affected the states of Queensland (91% of the total industry loss) and New South Wales (8%).

PERILS also confirmed that an updated estimate of the insurance market loss from the event will be published on November 27th, 2026, twelve months after the event end date.

Darryl Pidcock, Head of Asia Pacific & Cyber at PERILS, commented: “Industry losses are quite stable compared to the second loss report released three months after the event. These recent storms demonstrate how the key drivers of insured losses can vary between events.

“Despite exceptionally large hail, motor claims accounted for a lower-than-usual share at 12% of total industry losses—well below what we would typically observe. Instead, storm damage largely impacted residential properties and to a lesser extent commercial properties, reflecting the combined effects of destructive winds, intense rainfall and large hailstones.”

Pidcock concluded: “The detailed losses included in this report together with the observed storm intensities offer valuable insights how SCS events can differ materially with their impact on insured properties.”