Christmas storms in Australia: final estimate of insured losses

The fourth and final assessment produced by the research firm PERILS suggests that the 2023 Christmas storms in Australia may generate insured losses of 1.606 billion AUD (1 billion USD).

This figure was estimated at 1.56 billion AUD (971.9 million USD) in July 2024, 1.547 billion AUD (963.8 million USD) in April 2024 and 1.395 billion AUD (869.1 million USD) in February 2024.

Most claims (89%) relate to property damage, followed by vehicle damage (11%).

The severe storms hit the states of Queensland, New South Wales and Victoria between 23 and 29 December 2023.