Catastrophe data aggregator PERILS has lowered its estimated insured losses from Cyclone Alfred to AU $2.250 billion, , six weeks after the event.This is PERILS’ second industry loss estimate for Cyclone Alfred.As a reminder, tropical Cyclone Alfred was the seventh named storm in the Australian cyclone season, with impacts recorded between February 28th and March 12th, 2025.Cyclone Alfred made landfall on March 7th, 2025, as a Category 1 cyclone near the Gold Coast in Southeast Queensland after spending several days offshore, slowly moving south.

It then went on to reach an offshore peak intensity of Category 4 but by landfall diminished in wind strength, carrying substantial tropical-sourced moisture into the Southeast Queensland and northeast New South Wales regions PERILS went on to explain that the cyclone left over 300,000 homes and businesses without power.It also caused severe damage to the beaches on both the Gold Coast and Sunshine Coast.Additionally, there was one fatality and major disruption to transport including the suspension of flights and closure of schools.

PERILS’ latest estimate is based on loss data collected from the affected insurers from the cyclone, and in line with the PERILS’ coverage definition for Australia, the estimated loss number covers the property and motor hull lines of business.The event was , insurance and reinsurance broker Aon had said..

PERILS has confirmed that a third loss estimate for Cyclone Alfred will be published on September 12, 2025, six months after the event’s end date.This report will include an industry loss footprint by CRESTA zone, and break down losses across property and motor lines.Darryl Pidcock, Head of Asia Pacific & Cyber at PERILS, commented: “We have observed a 12% reduction overall since the six-week initial industry loss estimate was released which is unusual compared to previous Australian events.

“While the number of claims has remained stable, the average claim amount has reduced from $16,000 to $14,000.Compared to other storm and flood events this average claim amount is comparatively low, reflecting, in part, the relatively high proportion of food spoilage claims caused by extended power outages.Although wind damage was not a major loss contributor as wind gusts reduced substantially upon Alfred making landfall, heavy and persistent rainfall caused considerable damage albeit not at the levels initially expected.” Pidcock continued: “Our third loss report to be released in three months’ time will include a detailed breakdown of losses by postcode, line of business and coverage enabling a more detailed analysis of this event.”.

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