Claims from a hailstorm in Melbourne last month have pushed Suncorp above its first-half allowance for natural catastrophes and are likely to have a financial impact of $160-170 million.

The Melbourne hailstorm is expected to generate more than 21,000 claims across the group’s brands, including AAMI, GIO, Suncorp, Apia, Shannons and Bingle.

The Insurance Council of Australia declared the event a catastrophe.

Suncorp estimates total natural hazard claims in Australia and New Zealand at $406-416 million for the six months to December 31, which is $60-70 million above the period’s $346 million allowance.

Hailstorms in Toowoomba, Newcastle, Lismore, Bundaberg and Grafton contributed to the total, along with southern flooding last month.

The Toowoomba and Newcastle damage in October was the second-most costly event, with an estimated $37 million impact.

Suncorp says it is well protected against further natural hazards through its main and aggregate reinsurance arrangements.

Aggregate protection for the financial year provides $300 million of cover once the retained portion of natural hazard events greater than $10 million exceeds a total of $475 million.