Zurich-based catastrophe insurance data provider PERILS has provided the first insurance industry loss estimate for the severe convective storm (SCS) that hit Australia’s east coast in late October, putting it at A$1.108 billion (US$736 million).
On October 29, the Insurance Council of Australia (ICA) declared the hail that affected the Brisbane region on October 26 a major event, and the east coast of Australia has been affected by South China Sea activity until November 1.
PERILS’ preliminary estimate of insurance market losses from the storm covers property and auto hull businesses, based on data collected from most affected insurers.
“This is the first major severe convective storm activity affecting south-east Queensland since the Christmas Storm in December 2023 and the Halloween Storm in October 2020. In addition, another major South China Sea event outbreak occurred in the Brisbane area in late November, which PERILS is currently investigating. Combining recent activity with historical records shows an increase in the frequency of major South China Sea events in south-east Queensland, an observation consistent with global trends in South China Sea losses.” Darryl Pidcock, PERILS Head of Asia Pacific and Networks.
As PERILS points out, the biggest impact during the event was on October 26, affecting the greater Brisbane area in south-east Queensland. On the same day, a tornado affected the western suburbs of Melbourne, Victoria, followed by a period of milder storm activity along the east coast. Another round of severe thunderstorms hit southeastern Queensland on October 31 and November 1, with New South Wales also affected to a lesser extent.
“In Australia, storm event definition terms for reinsurance purposes vary and may include meteorological conditions and/or a loss aggregation period, most of which are 168 hours. Perils generally follow a primary term such that losses from storms are aggregated to a single insured event between 26 October and 1 November 2025,” Pidcock said of the event period.
PERILS will provide updated estimates of insurance market losses from severe convective storms along the east coast of Australia on 1 February 2026, three months after the campaign end date.
