Data Collection
2010/2011 Canterbury and 2016 Kaikoura Earthquake Reinsurance
Methodology
Overseas reinsurance claims from the Canterbury and Kaikōura earthquakes
Canterbury earthquakes
Total international reinsurance claims from all Canterbury earthquakes are estimated at $21.1 billion.
At 31 December 2017, a total of $20.1 billion of these claims had been settled with overseas reinsurers, leaving $1.0 billion of claims outstanding. These outstanding insurance claims are included as assets in New Zealand's international investment position. See the table below for details.
| Updated reinsurance claim estimate - Canterbury earthquakes | |||
|---|---|---|---|
| Quarter | Total Reinsurance Claims | Settlements | Total Outstanding Claims |
| NZ$(million) | NZ$(million) | NZ$(million) | |
| Sep-10 | 6,510 | 0 | 6,510 |
| Dec-10 | 0 | 0 | 6,510 |
| Mar-11 | 13,555 | 59 | 20,006 |
| Jun-11 | 1,002 | 483 | 20,525 |
| Sep-11 | 0 | 892 | 19,633 |
| Dec-11 | 49 | 1,193 | 18,489 |
| Mar-12 | 0 | 1,361 | 17,129 |
| Jun-12 | 0 | 1,399 | 15,730 |
| Sep-12 | 0 | 1,362 | 14,367 |
| Dec-12 | 0 | 1,514 | 12,853 |
| Mar-13 | 0 | 1,010 | 11,843 |
| Jun-13 | 0 | 1,373 | 10,470 |
| Sep-13 | 0 | 1,343 | 9,127 |
| Dec-13 | 0 | 1,051 | 8,076 |
| Mar-14 | 0 | 1,184 | 6,891 |
| Jun-14 | 0 | 535 | 6,356 |
| Sep-14 | 0 | 564 | 5,792 |
| Dec-14 | 0 | 626 | 5,166 |
| Mar-15 | 0 | 605 | 4,561 |
| Jun-15 | 0 | 311 | 4,250 |
| Sep-15 | 0 | 254 | 3,996 |
| Dec-15 | 0 | 371 | 3,626 |
| Mar-16 | 0 | 1,044 | 2,581 |
| Jun-16 | 0 | 643 | 1,938 |
| Sep-16 | 0 | 191 | 1,747 |
| Dec-16 | 0 | 290 | 1,457 |
| Mar-17 | 0 | 107 | 1,350 |
| Jun-17 | 0 | 76 | 1,274 |
| Sep-17 | 0 | 63 | 1,211 |
| Dec-17 | 0 | 211 | 1,000 |
| Total | 21,116 | 20,116 | 1,000 |
Kaikōura earthquakes
Total international reinsurance claims from all Kaikōura earthquakes are estimated at $1.1 billion.
At 31 December 2017, a total of $341 million of these claims had been settled with overseas reinsurers, leaving $725 million of claims outstanding. These outstanding insurance claims are included as assets in New Zealand's international investment position. See the table below for details.
| Updated reinsurance claim estimate - Kaikōura earthquakes | |||
|---|---|---|---|
| Quarter | Total Reinsurance Claims | Settlements | Total Outstanding Claims |
| NZ$(million) | NZ$(million) | NZ$(million) | |
| Dec-16 | 1,065 | 14 | 1,051 |
| Mar-17 | 0 | 18 | 1,034 |
| Jun-17 | 0 | 43 | 991 |
| Sep-17 | 0 | 105 | 886 |
| Dec-17 | 0 | 161 | 725 |
| Total | 1,065 | 341 | 725 |
The next revision to earthquake reinsurance claims will take place in our next regular revision release, which will be the Balance of Payments and International Investment Position: June 2018 quarter release in September 2018
en-NZ
