GLRE - Australia's Cyclone Seroja Leaves A$434m Insurance Industry Loss

• Tropical Cyclone Seroja, which impacted Western Australia earlier this year, is initially estimated to have caused a A$434 million industry loss for the insurance and reinsurance market, according to PERILS.
• The Western Australia region has not experienced a comparable insured loss event since the Perth Hailstorms of 2010, and a number of damaging cyclones in the 1970s, including Cyclone Joan (1975), Alby (1978), and Hazel (1979).
• The initial industry loss figure of A$434 million covers both the property and motor hull lines of business.

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