Data Collection
2010/2011 Canterbury and 2016 Kaikoura earthquake reinsurance Mar19
Methodology
Overseas reinsurance claims from the Canterbury and Kaikōura earthquakes
Canterbury earthquakes
Total international reinsurance claims from all Canterbury earthquakes are estimated at $21.8 billion.
At 31 March 2019, a total of $21.6 billion of these claims had been settled with overseas reinsurers, leaving $160 million of claims outstanding. These outstanding insurance claims are included as assets in New Zealand's international investment position. See the table below for details.
| Updated reinsurance claim estimate - Canterbury earthquakes | |||
|---|---|---|---|
| Quarter | Total Reinsurance Claims | Settlements | Total Outstanding Claims |
| NZ$(million) | NZ$(million) | NZ$(million) | |
| Sep-10 | 6,669 | 0 | 6,669 |
| Dec-10 | 0 | 0 | 6,669 |
| Mar-11 | 14,035 | 59 | 20,645 |
| Jun-11 | 1,023 | 483 | 21,186 |
| Sep-11 | 0 | 892 | 20,294 |
| Dec-11 | 41 | 1,193 | 19,142 |
| Mar-12 | 0 | 1,361 | 17,782 |
| Jun-12 | 0 | 1399 | 16383 |
| Sep-12 | 0 | 1362 | 15020 |
| Dec-12 | 0 | 1514 | 13506 |
| Mar-13 | 0 | 1010 | 12496 |
| Jun-13 | 0 | 1373 | 11123 |
| Sep-13 | 0 | 1,343 | 9,780 |
| Dec-13 | 0 | 1051 | 8729 |
| Mar-14 | 0 | 1184 | 7544 |
| Jun-14 | 0 | 535 | 7009 |
| Sep-14 | 0 | 564 | 6445 |
| Dec-14 | 0 | 626 | 5819 |
| Mar-15 | 0 | 605 | 5214 |
| Jun-15 | 0 | 329 | 4885 |
| Sep-15 | 0 | 293 | 4592 |
| Dec-15 | 0 | 406 | 4186 |
| Mar-16 | 0 | 1070 | 3116 |
| Jun-16 | 0 | 660 | 2456 |
| Sep-16 | 0 | 207 | 2249 |
| Dec-16 | 0 | 321 | 1928 |
| Mar-17 | 0 | 216 | 1712 |
| Jun-17 | 0 | 76 | 1636 |
| Sep-17 | 0 | 70 | 1566 |
| Dec-17 | 0 | 256 | 1310 |
| Mar-18 | 0 | 219 | 1092 |
| Jun-18 | 0 | 248 | 844 |
| Sep-18 | 0 | 163 | 681 |
| Dec-18 | 0 | 348 | 332 |
| Mar-19 | 0 | 172 | 160 |
| Total | 21,769 | 21,608 | 160 |
Kaikōura earthquakes
Total international reinsurance claims from all Kaikōura earthquakes are estimated at $1.3 billion.
At 31 March 2019, a total of $749 million of these claims had been settled with overseas reinsurers, leaving $549 million of claims outstanding. These outstanding insurance claims are included as assets in New Zealand's international investment position. See the table below for details.
| Updated reinsurance claim estimate - Kaikōura earthquakes | |||
|---|---|---|---|
| Quarter | Total Reinsurance Claims | Settlements | Total Outstanding Claims |
| NZ$(million) | NZ$(million) | NZ$(million) | |
| Dec-16 | 1,298 | 14 | 1,284 |
| Mar-17 | 0 | 18 | 1,267 |
| Jun-17 | 0 | 43 | 1,224 |
| Sep-17 | 0 | 105 | 1,119 |
| Dec-17 | 0 | 165 | 954 |
| Mar-18 | 0 | 94 | 860 |
| Jun-18 | 0 | 117 | 743 |
| Sep-18 | 0 | 107 | 635 |
| Dec-18 | 0 | 35 | 600 |
| Mar-19 | 0 | 51 | 549 |
| Total | 1,298 | 749 | 549 |
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 2019 quarter release in September 2019
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