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The 2017 and 2018 wildfires have led to double-digit rate rises, reduced capacity and a more cautious attitude from reinsurers. -
The local insurance association said two-thirds of claims were for property damage.
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The carrier also saw some adverse reserve development from a May weather event.
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An appropriations committee delayed considering the bill after the state's finance department objected to it.
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Insured losses from catastrophes fell from $26bn last year.
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The typhoon struck south east China as the equivalent of a Category 3 hurricane.
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Swiss Re leads the charge on US exposure as reinsurers prepare for North American hurricane season.
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The storm was predicted to hit Japan as a Category 1 typhoon, but is now expected to remain at tropical storm strength.
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The service provider’s new A$1.2bn loss estimate is in line with figures from the Insurance Council of Australia.
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Typhoon Lekima avoided a direct hit on Shanghai and Taiwan but has caused extensive flooding and damage.
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The international operations, which include TMHCC and Tokio Marine Kiln, drove group earnings growth of 11 percent in the three months ended June.
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Reserve strengthening for prior-year catastrophes lifts the overall loss ratio, while specialty line earnings improve.
