The damage costs claimed by Suncorp due to the storm have increased tremendously after supercell thunderstorms that were extremely harsh to the Queensland and New South Wales areas recently.
The storm caused high winds and large hail, which resulted in great damage to properties and vehicles all over the region. The South East Queensland storms are already listed among the very first natural hazard events in the current financial year that have incurred such big losses for Suncorp Group Limited.
Storm damage costs surged after supercell storms hit Queensland and NSW.
What Triggered The Suncorp Storm Damage Costs?
The violent weather phenomenon caused the supercell to be very active, and as a result, the population centres were hit with extremely strong winds and large hailstones around South East Queensland.
According to Suncorp, the company had received more than 10,000 insurance claims by 4 pm on November 26, 2025. Half of the claims (about 5,000) are connected to house insurance, and the remaining 5,000 are associated with car insurance.
The price tag of damage has ballooned up to $350 million for net storm damage cost which has already gone through the group’s reinsurance maximum event retention. The firm highlighted that they are still in the early assessment stage of the situation, which implies that the final figures may change as more inspections are carried out.
How Is Suncorp Responding To South East Queensland Storms?
As a measure of precaution, Suncorp has already initiated its Disaster Management Centre, which is a good thing. The Chief Executive Officer, Steve Johnston, disclosed that the Mobile Disaster Response Hubs of the company have been distributed all over the most affected communities of southeast Queensland.
Besides, emergency builders have started to work on repairs that would make buildings and houses that were damaged not a hazard anyone can come in contact with. The November 2025 storms affected a wide area of Queensland, New South Wales, and parts of New Zealand.
Johnston told the affected customers at Сtar to submit their claims via the internet as quickly as possible, regardless of whether the total amount of damage is still unknown or not. He stated that with early claims, there would be assistance prioritisation by the teams, and also the organisation of rapid support during the recovery phase.
Suncorp activated the disaster centre and deployed response hubs statewide.
Suncorp Storm Damage Costs Within Broader Natural Hazard Picture
The storm damage costs of Suncorp are an indication of a much larger trend of ever-increasing weather-related losses for the financial year that just began. For the period of 1 July 2023 to 25 November 2023, Suncorp has recorded several natural hazard occurrences throughout Australia and New Zealand.
The major incidents included the intense thunderstorms that hit the Eastern states of Australia in October 2023 and caused an estimated loss of $220 million- $260 million. Another major event was the hailstorm that affected the Fraser Coast area in October 2023 and had a cost of $60 million. The storms and hail that struck southeast Queensland in November 2023 further added $120 million-$140 million of costs to the already incurred losses before the next big event.
After considering the $350 million hailstorm event in New South Wales and Queensland, Suncorp’s total event costs now stand between $850 million and $935 million. When natural hazards that comprise attrition and CHE events are considered together, the overall natural hazards expenses range from $1,150 billion to $1,275 billion.
What Does This Mean For Suncorp’s Reinsurance Protection?
After the storms in Queensland that caused severe damage, Suncorp confirmed that its primary catastrophe reinsurance coverage was still in place. The company has taken cover for a third significant occurrence for up to $1 billion as part of its purchase for FY26.
However, the recent events were so large that they caused the company to erode some of its deductibles, and it was left with a lower retention level for the next large Australian event. The next big event retention has been set at an amount between $240 million and $280 million instead of the usual $350 million. This change is a result of the persistent occurrence of harsh weather conditions in the area.
Suncorp reinsurance remains active, covering the third major event.
Investor Outlook After South East Queensland Storms
It is clear that the financial impact of the storm is huge, but still, analysts point out that the Suncorp reinsurance program is designed in a way to deal with such drastic disasters. The natural hazard allowance for Suncorp for FY26 is still $1,770 million, which means they still have some buffer against future climate-driven risks.
Then again, extreme weather in Queensland still continues to be a major concern for both insurers and investors. The current pattern of destructive storms is a strong indication of the financial risks that Australian insurers are facing amidst the changing climate.
Queensland Weather Update And Recovery Efforts
The storm forecast for Queensland still remains closely monitored by the meteorologists as they predict further storms in the coming weeks. The response teams from Suncorp continue to work alongside local contractors so as to support households that got affected, providing the essential repairs and temporary assistance as quickly as possible.
The recent storms that hit South East Queensland once again remind us that Australia is becoming increasingly prone to natural disasters, and therefore, both insurance companies and communities are preparing for more extreme climate patterns in the following seasons.
Also Read: Suncorp Group Buy-Back Update: Daily ASX Notification
Frequently Asked Questions
Q1. What is the total amount for the Suncorp storm damage up until now?
As of 26 November 2025, Suncorp has calculated the net cost to be $350 million.
Q2. How many claims did Suncorp get because of the Queensland storms?
The insurance company has received claims slightly over 10,000, which is about the same number for home and motor insurance.
Q3. Has Suncorp’s reinsurance cover been removed completely?
Suncorp has indeed notified that the primary catastrophe cover policy continues, albeit with lower retention levels.
Q4. Will Suncorp’s total costs for damage be raised again?
According to Suncorp, it is very early days in the assessment process, hence numbers may vary as inspections go on.
