Perils raises Victoria bushfire insured loss estimate to A$860 million

By Navneeta Nandan
Published: Tue 14 Jul 2026

Catastrophe data aggregator Perils has lifted its insured ​loss estimate for January's Victoria bushfires ‌to A$860 million ($596.24 million), up from its previous figure of A$810 million.

CFA firefighters conduct black-out operations at dusk as they mop up remaining hot spots following bushfire activity near Alexandra, Victoria, Australia, as extreme fire danger conditions persist across the state, January 10, 2026. AAP/Michael Currie via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. NO RESALES. NO ARCHIVE. AUSTRALIA OUT. NEW ZEALAND OUT. NO COMMERCIAL OR EDITORIAL SALES IN NEW ZEALAND. NO COMMERCIAL OR EDITORIAL SALES IN AUSTRALIA. TPX IMAGES OF THE DAY
CFA firefighters conduct black-out operations at dusk as they mop up remaining hot spots following bushfire activity near Alexandra, Victoria, Australia, as extreme fire danger conditions persist across the state, January 10, 2026. AAP/Michael Currie via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. NO RESALES. NO ARCHIVE. AUSTRALIA OUT. NEW ZEALAND OUT. NO COMMERCIAL OR EDITORIAL SALES IN NEW ZEALAND. NO COMMERCIAL OR EDITORIAL SALES IN AUSTRALIA. TPX IMAGES OF THE DAY

The estimate covers ​property and motor hull losses ​by postcode, with data further divided ⁠by residential and commercial lines, Perils ​said on Tuesday.

Personal lines property accounts ​for 30% of the loss, while commercial lines property represents 68% and motor 2%.

The Zurich-based ​organisation will publish its fourth market ​loss estimate 12 months after the event end ‌date ⁠on January 13, 2027. Its initial loss estimate was A$786 million.

Perils said Victoria suffered 30 major bushfires in January ​due to ​extreme ⁠heat, dry vegetation, strong winds and ignition sources such as ​lightning and human activity. They ​burned ⁠approximately 400,000 hectares and caused widespread damage, particularly in the state's central ⁠and ​northern regions. The bushfires ​also destroyed around 900 buildings, disrupted critical infrastructure ​and caused one fatality.

($1 = 1.4424 Australian dollars)

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