PERILS sets final insured loss from Australia's late-October 2025 east coast storms at A$1.62bn

PERILS released its fourth and final industry loss estimate for the late-October 2025 storms on Australia's east coast on 2 November, putting the insurance market loss at A$1,620m. The figure covers property and motor business and uses loss data from most of the Australian market. It compares with A$1,501m in the third estimate, issued on 30 April 2026.

The final number is the highest of the four estimates. PERILS put the loss at A$1,108m in its first estimate on 15 December 2025 and at A$1,512m in its second on 2 February 2026. Property accounted for 87% of the final total and motor for 13%. Queensland carried 94% of the loss, New South Wales 4.5% and Victoria 1.5%.

The storms ran from 26 October to 1 November 2025. The worst event hit greater Brisbane on 26 October, the same day a tornado damaged Melbourne's western suburbs. A second outbreak reached South East Queensland and northern New South Wales on 31 October and 1 November.

Darryl Pidcock, head of Asia Pacific and cyber at PERILS, said loss development over the last six months had been more modest as insurers settled claims, and that the 8% increase was within expectations for this type of event. He said more vulnerable assets, particularly the growth in solar panel installations, and a warming climate are pushing industry losses up, and that the convective storm threat stays real through spring and early summer despite El Niño conditions.

The final report breaks losses down by postcode, split into residential and commercial lines, with maximum hail size, for use in validating catastrophe model vulnerability functions. PERILS estimates can also serve as triggers for industry loss warranties and insurance-linked securities.