Over $11b quake claims outstanding

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

Relevant offers

National business

Genesis shares list at a premium Super Fund posts 19 per cent rise Air New Zealand escapes class action One salmon farm appeal allowed Business backs Labour's manufacturing plan Labour market takes off New Zealand stocks "fair value" Air NZ to seek costs over cargo cartel case Grape harvests beat rain Turners Auctions upbeat outlook

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

- © Fairfax NZ News

Special offers

Featured Promotions

Sponsored Content