June 6, 2016 / 9:36 PM / 4 years ago

RPT-UPDATE 1-Australia's QBE says storm impact on claims may not be severe

(Repeat story, no change to text)

* Insurer says too early to assess storm damage impact

* ICA estimates insured losses of A$38 mln as of Monday

* ICA expects claim numbers to rise

SYDNEY, June 6 (Reuters) - QBE Insurance Group Ltd, Australia’s biggest insurer by premium income, on Monday said the impact of a severe storm that lashed Australia’s east coast at the weekend was unlikely to be as severe on claim volumes as one that hit last year.

QBE said it was too early to provide detail on the total number of claims although the Insurance Council of Australia (ICA) said it expected the industry to face more claims in coming days.

Stocks in Australia biggest insurers including QBE slipped 2 percent to 3 percent on the Australian Securities Exchange on Monday in a firm broader market, on concerns about potential hefty payouts from the deadly storm that disrupted everything from the internet to shipping.

Australia-based insurers received more than 11,150 claims with estimated insured losses of A$38 million ($27.9 million) as of Monday afternoon due to the storms in Queensland and New South Wales states, the ICA said.

“The ICA expects the number of claims will keep rising over coming days as evacuated residents return to their homes to assess the damage,” it said in a statement.

A hailstorm in Sydney in April last year produced 17,000 claims and insured losses of A$417 million. Another storm that hit Sydney and nearby towns later the same month led to insured losses of A$950 million.

Suncorp and Insurance Australia Group said it was too early to comment on claims numbers.

$1 = 1.3641 Australian dollars Reporting by Swati Pandey; Editing by Stephen Coates

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