PERILS trims Queensland Vs New South Wales losses to AU $2.943 billion
PERILS cut its insured industry loss estimate for the queensland vs new south wales severe convective storms to AU $2.943 billion. The third figure is just below the second estimate and leaves Queensland as the clear center of the event.
Queensland accounted for 91% of the total industry loss, while New South Wales made up 8%. Darryl Pidcock said, "Industry losses are quite stable compared to the second loss report released three months after the event. These recent storms demonstrate how the key drivers of insured losses can vary between events."
Darryl Pidcock on claims mix
The loss mix was weighted toward property. Personal lines property losses represented 67% of the total, commercial lines property losses accounted for 21%, and motor losses were 12%.
Pidcock said, "Despite exceptionally large hail, motor claims accounted for a lower-than-usual share at 12% of total industry losses—well below what we would typically observe. Instead, storm damage largely impacted residential properties and to a lesser extent commercial properties, reflecting the combined effects of destructive winds, intense rainfall and large hailstones."
Queensland hail and east coast damage
The storms hit Australia’s east coast from November 21 to November 27, 2025, with the broad damage path running from Brisbane in South East Queensland down to Sydney in New South Wales. The most significant activity came during the afternoon and early evening of November 24, when South East Queensland saw hailstones up to 14 cm in diameter.
PERILS built the estimate from data gathered from impacted insurers and included property and motor hull lines of business. It first put industry losses at AU $2.663 billion in January, then raised the estimate to AU $2.95 billion in late February before trimming it to AU $2.943 billion in the latest report.
PERILS said it will publish an updated estimate of the insurance market loss from the event on November 27, 2026. For readers tracking the damage tally, the latest update keeps the total near the earlier figure while making clear that Queensland absorbed most of the loss.
