Suncorp also took the opportunity to update the market on the state of natural hazard claims. Over the nine months to 31 March the general insurance division took a hit with claims reaching $537 million against an allowance of $520 million. This was largely due to the damage caused by ex-Tropical Cyclone Oswald which is currently estimated at a staggering $250 million in claims to Suncorp. The weather events certainly haven’t damaged the share price growth of the domestic insurers, with market-beating returns from the domestic-focussed insurers over the past 12 months. Suncorp, Insurance Australia Group (ASX: IAG) and AMP (ASX: AMP) have all significantly outperformed the S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) as displayed in the chart below. Meanwhile the share prices of New Zealand based insurer Tower (ASX: TWR) and global insurer QBE Insurance (ASX: QBE) have both underperformed.