** Disaster recovery and building restorer Johns Lyng JLG.AX falls 1.7% to A$1.975
** Insurance Council of Australia says insurance losses from ex-Tropical Cyclone Alfred and February's North Queensland floods exceeded A$1.2 bln ($771.6 mln)
** Jefferies estimates this could represent potential value of contracts of ~A$11 mln EBITDA for JLG
** However, trims PT to A$3.20 from A$3.80 and maintains "buy" due to recent changes in market multiples of similar cos
** Notes it's too early to quantify JLG's exact impact, but sees potential upside to consensus
** JLG loses 47.1% YTD
($1 = A$1.5552)
(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))