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Halloween hail in Queensland, Australia seen as $805m industry loss

The Insurance Council of Australia has said that its estimate for the insurance and reinsurance market loss from the hailstorm event on October 31st 2020 that struck south-east Queensland is A$805 million. That's far lower than the A$1.3 billion estimate announced by PERILS AG, which is based on insured property and read the full article →

Industry loss from Australian east coast low finalised 3% higher at A$989m

The estimate for insurance and reinsurance market losses from the severe east coast low pressure storm that hit Australia at the beginning of February 2020, has been finalised with a rise of 3% at A$989 million by PERILS AG. PERILS first estimate for this storm at the end of March 2020 read the full article →

Queensland’s October 2020 hailstorm industry loss raised 6% to A$1.3bn

The insurance and reinsurance market loss from a hailstorm event in October 2020 that struck south-east Queensland, Australia has been raised 6% to A$1.3 billion by PERILS AG. The hailstorm was originally designated as the first catastrophe to strike Australia of the 2020-21 season by the Insurance Council of Australia (ICA), read the full article →

Industry loss from Australia’s Jan 2020 hailstorms raised to A$1.9bn

The insurance and reinsurance industry loss estimate for the severe hailstorms that struck the southeastern region of Australia in January 2020 has been raised by roughly 4% to almost AU $1.9 billion. Zurich based, industry-backed estimator of catastrophe insurance and reinsurance market losses PERILS AG had originally estimated the property market read the full article →

Some ILS fund November returns dented by Australia hail & severe weather

A number of insurance-linked securities (ILS) funds invested into collateralised reinsurance positions that are exposed to catastrophe events in Australia have reported negative performance for November on the back of reserving for hail storms and severe weather, we understand. In particular, losses from the Queensland, Australia hail storms that struck on read the full article →

October 2020 Queensland hailstorm industry loss said A$1.231bn

The insurance and reinsurance market loss from the October 2020 south-east Queensland, Australia hailstorm event has been preliminarily estimated at A$1.231 billion by PERILS AG. The hailstorm was designated as the first catastrophe to strike Australia of the 2020-21 season by the Insurance Council of Australia (ICA), with an expectation that read the full article →

First Australia catastrophe of season declared for Queensland hailstorm

The first catastrophe of the 2020-21 season has been declared in Australia by its Insurance Council, after large hail of up to tennis ball size hit south-east Queensland damaging cars and homes. An influx of claims is expected once as residents and businesses inspect the damage and lodge impacts with their read the full article →

Australia’s summer catastrophe industry loss hits A$5.4bn

Insurance and reinsurance industry losses from the spate of catastrophe events that impacted Australia through its summer months in 2019/20 are now estimated to have reached A$5.4 billion, according to the Insurance Council of Australia (ICA). That's a continued rise from the almost A$5.1 billion of industry losses reported back in read the full article →

Australian east coast low industry loss raised 21% to A$958m

The estimate of insurance and reinsurance market losses from a severe east coast low pressure storm that struck Australia at the beginning of February, has risen some 21% at the second reporting to A$958 million, according to PERILS AG. PERILS latest estimate, which is its first update since it estimated the read the full article →

IAG bolsters reinsurance with new aggregate cat cover & stop loss

Australian primary insurance group IAG has added new catastrophe reinsurance protection at the July 1st renewals, increasing its aggregate protection and also capping potential losses with a stop loss cover. IAG has been making relatively heavy use of its reinsurance protection in recent quarters, as catastrophe loss activity in Australia saw read the full article →