Reinsurance pool losses from the latest cyclone season are estimated at about $267 million, based on an early view of impacts from nine declared events.

Australian Reinsurance Pool Corporation CEO Christopher Wallace says the 2025-26 season highlights the scheme’s performance and the risk’s growing complexity. The period was one of the most active in recent years. 

“Despite this, losses remain within expectations and do not change our overall view of the pool’s resilience,” he said. 

“Importantly, the pool has continued to operate as intended – providing certainty of cover, supporting insurer balance sheets and reducing reliance on global reinsurance markets.” 

Cyclone Narelle was the season’s most complex storm, taking an unusual and extended path that affected multiple regions and led to the declaration of two events under legislative arrangements. 

“We will continue to work closely with insurers to support recovery, taking a practical approach that reflects both the formal framework and how losses emerge in practice,” Dr Wallace said. 

Narelle caused estimated losses of $4.3 million in its first declared event, then an additional $109 million when it later caused more significant damage. Among other storms, losses from Fina are estimated at $84 million and Koji at $53.5 million. 

The pool’s ultimate losses since it was established are estimated at about $2 billion, driven mainly by last year’s events, particularly Tropical Cyclone Alfred. 

Total losses for the 2024-25 season were $1.591 billion. In 2023-24 they were $139 million. 

The ARPC says its summary numbers are unaudited actuarial reserving estimates and figures may evolve, particularly for events with prolonged damage and recovery timelines. 

The $267 million figure for 2025-26 ultimate incurred losses reflects a central estimate of $195 million and a risk margin of $72 million.