australia

Catastrophe data aggregator PERILS AG has published a fourth and final industry loss estimate of nearly AU $1.88 billion for Cyclone Alfred, which affected the Australian states of Queensland and New South Wales during the period of February 28 to March 12, 2025.

Catastrophe data aggregator PERILS has updated its estimate of insurance industry losses for the severe convective storms (SCS) that hit Queensland and New South Wales between November 21st to 27th 2025, lifting the total almost 11% to AU $2.95 billion.

Catastrophe data aggregator PERILS has updated its estimate of insurance industry losses from the severe convective storms (SCS) that struck Australia’s East Coast in late October, lifting the total almost 37% to AU $1.512 billion (approx US $1.05bn).

New data released by the Insurance Council of Australia (ICA) shows that the total cost of extreme weather events that impacted Australia throughout 2025 resulted in almost $3.5 billion in insured losses, stemming from 264,000 claims.

Suncorp Group, the Australian primary insurance giant, has provided an update on its catastrophe and severe weather losses from the first-half of its financial year, having now gone well-over budget, but seemingly with only occurrence reinsurance to benefit the company, only one loss event is set to drive a recovery at this time.

Severe convective storms and hail across Queensland and New South Wales, Australia in late November is initially estimated to have resulted in an insurance industry loss of AU $2.663 billion (around US $1.78bn) by catastrophe data aggregator PERILS AG.

Catastrophe data aggregator PERILS has provided its first initial insurance industry loss estimate for the severe convective storms (SCS) that struck Australia’s East Coast in late October, at AU $1.108 billion (USD $736 million).

Insurance claims from recent days of severe storms and hail across Queensland and New South Wales in Australia are rising still, with this weather catastrophe set to be the most costly of the current financial year so far for the domestic market insurers.

Suncorp Group, the Australian primary insurance giant, looks set to make reinsurance recoveries to help it manage losses from the recent South East Queensland severe thunderstorms and hail, with the company saying the net cost is expected to be at its full reinsurance retention.

The Insurance Council of Australia (ICA) has declared an Insurance Catastrophe for the strong winds and damaging hail that affected South East Queensland between Sunday, November 23, and Monday, November 24, with the firm noting that insurers have already received more than 16,000 claims.