Zurich-based catastrophe insurance data provider PERILS has reported that the Victoria bushfires, which struck south-eastern Australia from 7 to 13 January 2026, led to insurance losses of A$786m (US$559m).
In a media release, PERILS said the figure is based on loss data collected from affected insurers and, in line with its Australian coverage definition, includes property and motor hull lines of business. An updated estimate is set to be issued on 13 April 2026.
The blazes were the most destructive bushfire event in the state of Victoria since the Black Saturday disaster of February 2009. Fuelled by a heatwave and dry grassland, multiple fires burned about 400,000ha, largely across rural areas. The disaster caused one fatality and significant damage to homes, livestock and infrastructure.
PERILS Product Manager Luzi Hitz said, “Victoria has suffered two major wildfire disasters in recent years, the ‘Black Summer’ event of 2019/20 and the ‘Black Saturday’ event of 2009, the latter causing 173 fatalities. This time, the death toll was much lower, in part due to the bushfires impacting less populated areas, but also due to the rapid declaration of a state of emergency, early evacuations and extensive firefighting efforts, which undoubtedly helped to save lives.”