HVRRF - Cyclone Seroja Declared A Catastrophe Australian Flood Claims Reach $600m

• The Insurance Council of Australia has now declared an Insurance Catastrophe for the impacted region of Western Australia that was affected by Tropical Cyclone Seroja.
• The damages from cyclone Seroja appear more likely to be an insurance event, rather than one that impacts reinsurance capital too significantly.
• Seroja was a rare cyclone that moved further south than is typically seen, which Australian meteorologists suggested may be partly because of warmer sea surface temperatures in the region.

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