Insight and Intelligence on the London & International Insurance Markets

4 February 2012

NZ quake to push up main players' reinsurance rates: Fitch

9 September 2010

Rating agency Fitch has said the 7.1 magnitude earthquake which struck New Zealand's second largest city, Christchurch, on Saturday (4 September), will likely drive reinsurance pricing higher for the main Australian players that dominate the market.

Fitch Ratings estimates the initial insured loss from the earthquake to be between NZ$1.5bn and NZ$6.0bn, although the agency expects the impact on the major Australian insurers to be limited by their catastrophe reinsurance coverage, along with cover from the country's government catastrophe pool,...

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