Commonwealth Bank (CBA) says it has recognised a loss of $85 million in relation to insurance claims for hail and storm weather events across the east coast, SA and Tasmania during last October.

The bank announced in an update today the $85 million figure is net of reinsurance recoveries and will impact its insurance income for the December half.

CBA is set to release its first-half earnings results for the six months to December on February 9.

The lender is preparing to offload its general insurance business to Hollard under an agreement announced last June, with the deal expected to close in the middle of this year, subject to regulatory approval.

It has previously said the insurance results are treated as continuing operations ahead of its sale to Hollard.