Perils pegs eastern Australia flood losses at A$3.9bn
Perils has pegged its initial insured market loss estimate for the eastern Australia floods during Q1 at A$3.99bn ($2.94bn), making it the “largest flood loss on record” for the Australian insurance industry, according to the loss aggregator.
The estimate covers the property and motor hull lines of business for the losses, which were triggered by floods across Queensland and New South Wales between 23 February and 8 March.
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