The cyclone pool has received 133,078 claims to date with a total net incurred value of about $1.65 billion, the latest statistics report says.

The most recent season generated claims from cyclones Fina, Hayley, Koji, Luana, Mitchell and Narelle, which was the costliest event.

Narelle, which hit Queensland, the NT and WA as it crossed north Australia, is listed by the ARPC as two events. The first generated incurred claims to date of $3.89 million and the second $57.1 million.

During the June quarter, the Australian Reinsurance Pool Corporation continued to receive and pay claims from storms in previous seasons, including tropical cyclones Jasper and Alfred – the largest event for the scheme since it began in July 2022.

The ARPC says the pool continues to support risk reduction through premium incentives for eligible mitigation measures, with discounts of $9.7 million applied as of June 30, up from $9 million reported last December 31.

The pool reinsures about 3.05 million home buildings, 72,000 strata developments and 99,000 SME buildings, representing more than $2.5 trillion in sums insured.

Total annual cyclone pool premium is about $675 million across home, strata and SME.

As of July 31, ARPC had paid about $1.37 billion in claims.