Over $11b quake claims outstanding

JAMES WEIR
Last updated 13:08 19/12/2012

Relevant offers

National business

Shamubeel Eaqub: Plight of regions: hope v futility Bank staff spread over Wellington as post-quake leasing frenzy eases Janine Starks: Christmas present freeze Ten old-fashioned things that life's more expensive without Coke targets 'foodies' as more people move away from fizzy Mike O'Donnell: The Commerce Commission doesn't get it or just doesn't care Press Hall developer takes post-quake swipe at engineering New Plymouth retail block surfs regional wave of interest Buyers offered Millbrook views without design rules Tatua announces new CEO from within company ranks

A total of $6.5 billion of international insurance claims related to the Christchurch earthquake have now been settled.

But that still leaves more than $11b in claims outstanding, according to Statistics New Zealand figures out today.

Total international insurance claims from all Canterbury quakes are now estimated at $17.6b, revised down slightly by about $300 million from earlier figures.

The settlements have been going through at about $1.3b for each of the past three quarters. 

Most recent Reserve Bank figures suggest the total cost of the Canterbury quake rebuild will be about $30b, but it would happen over an extended period, peaking in 2016.

That estimate was up from the previous forecast of about $20b.

The Reserve Bank has said that there remains considerable uncertainty about the cost and timing of the rebuilding work.

Ad Feedback

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content