australia

The Australian Prudential Regulation Authority has now updated its regulatory framework to make access to alternative reinsurance solutions simpler and easier for insurers in the country, with targeted changes that will support access to catastrophe bonds and other insurance-linked securities (ILS) for potential sponsors there.

At the July 1st 2026 reinsurance renewals loss free business in Australia and New Zealand saw rate reductions of between 10% and 15%, as sharpened reinsurer focus and more active overseas capacity softened the market, according to broker Howden Re.

New data released by the Insurance Council of Australia (ICA) shows that the total cost of extreme weather events that impacted Australia throughout 2025 generated AUD $4.8 billion in insured losses in 2025, up 727% on the previous year, as claim numbers spiked to 294,000, of which over $4.1 billion came from Queensland alone.

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).