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Perils lowers property loss estimate for Sydney hailstorms

Perils AG said its second property loss estimate for the December 2018 Sydney hailstorms is A$633 million, down from its initial estimate of A$635 million.

Also included in the estimate are losses from the storm activity in southeastern Queensland on Dec. 21, 2018, and Dec. 22, 2018.

Losses from motor and other lines of business were not included in the estimate. The catastrophe insurance data provider will release its third estimate on June 20.