Insurance Australia Group Limited (ASX:IAG) has received more than 13,700 claims relating to the impact of ex-tropical cyclone Oswald which struck Queensland last month.
The insurance company expects the claims will add up to between $120 million to $140 million.
IAG has received 600 claims arising from last month’s bushfires in New South Wales, Victoria and Tasmania which are expected to cost up to $35 million.
The company’s 2013 reinsurance program limits the impact of a single natural disaster event to $150 million.
IAG generated a net profit of $265 million in the 2012 financial year.
