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Severe storms in Australia’s east coast in late October 2025 caused $1.1 billion in insured losses, with major damage in Brisbane and a tornado in Melbourne.
Severe storms in Australia’s east coast in late October 2025 caused AU$1.108 billion in insured losses, primarily from property and motor claims, with the worst impact on October 26 in Brisbane and a tornado in Melbourne.
The Insurance Council of Australia declared the event a significant disaster, marking the first major severe convective storm in South East Queensland since 2020.
Meanwhile, the ILS market saw continued growth, with Inigo Insurance completing its largest cat bond at $255 million, Progressive raising its bond target to $125 million, and Beazley pricing the largest cyber cat bond at $300 million.
Abu Dhabi’s FSRA proposed a new ILS framework, including a synthetic sidecar, to boost its reinsurance hub ambitions.
Overall, the ILS sector is expanding rapidly, driven by innovation, strong investor demand, and increasing coverage for diverse perils including cyber and earthquakes.
Las tormentas severas en la costa este de Australia a fines de octubre de 2025 causaron $ 1.1 mil millones en pérdidas aseguradas, con daños importantes en Brisbane y un tornado en Melbourne.