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Perils AG has increased its estimate of property insured losses for a flood event in northern Queensland, Australia, to AU$1.04 billion ($726.8 million).
The insured loss estimate for the flooding, much of which occurred in the city of Townsville between Jan. 26 and Feb. 10, was raised from an initial estimate of AU$957 million issued by Perils on March 15, the Zurich-based catastrophe loss data company said Friday in a statement.
An updated estimate of the market loss will be made available on Aug. 12.
Perils AG on Thursday estimated insured losses from December hailstorms in Sydney and surrounding areas at AU$635.0 million ($460.3 million).