Zurich-based catastrophe data aggregator PERILS has lowered its industry loss estimate for Cyclone Alfred to A$1.92bn ($1.2bn), down 14% from its second loss estimate of A$2.25bn issued in June 2025, three months after the event.
The loss estimate covers property and motor hull lines of business and reflects data gathered directly from affected insurers. According to PERILS, personal property claims account for 70% of the total, commercial property for 26%, and motor losses just 4%.
Cyclone Alfred made landfall on 7 March as a Category 1 cyclone near the Gold Coast in Southeast Queensland having spent several days offshore slowly moving south. The storm reached 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 head of Asia Pacific & Cyber Darryl Pidcock said that since releasing their last loss report three months ago, they have observed a decrease in loss numbers and the number of claims provided by their insurance data providers, indicating cautious early reserving. “Even though Alfred was a cyclone event, losses were primarily driven by intense and prolonged rainfall rather than by strong winds. Personal property lines are the main contributor to the losses, followed by commercial lines property, and to a much smaller degree motor losses which only make up 4% of the total industry loss,” he said.