Loss Announcement:

AUD 907m - PERILS releases third loss estimate for the Southeast Australia Floods of October 2022

Zurich - 27 Apr 2023

PERILS has today disclosed its third industry loss estimate for the Southeast Australia floods, which occurred during the period of 12 to 28 October 2022.

In its third loss report, provided in the form of a detailed industry loss footprint, PERILS estimates that the event has cost the insurance industry a total of AUD 907 million. This figure compares to PERILS’ previous loss estimates of AUD 840m which was released on 26 January 2023 (3 months after the event), and AUD 791m which was released on 8 December 2022 (six weeks after the event). PERILS’ industry loss figures are based on detailed loss data collected from affected insurers.