2010/2011 Canterbury and 2016 Kaikoura earthquake reinsurance

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 30 September 2018, a total of $21.1 billion of these claims had been settled with overseas reinsurers, leaving $0.7 billion of claims outstanding. These outstanding insurance claims are included as assets in New Zealand's international investment position. See the table below for details. Updated reinsurance claim estimate - Canterbury earthquakes Quarter Total Reinsurance Claims Settlements Total Outstanding Claims NZ$(million) NZ$(million) NZ$(million) Sep-10 6,669 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 1,399 16,383 Sep-12 0 1,362 15,020 Dec-12 0 1,514 13,506 Mar-13 0 1,010 12,496 Jun-13 0 1,373 11,123 Sep-13 0 1,343 9,780 Dec-13 0 1,051 8,729 Mar-14 0 1,184 7,544 Jun-14 0 535 7,009 Sep-14 0 564 6,445 Dec-14 0 626 5,819 Mar-15 0 605 5,214 Jun-15 0 329 4,885 Sep-15 0 293 4,592 Dec-15 0 406 4,186 Mar-16 0 1,070 3,116 Jun-16 0 660 2,456 Sep-16 0 207 2,249 Dec-16 0 321 1,928 Mar-17 0 216 1,712 Jun-17 0 76 1,636 Sep-17 0 70 1,566 Dec-17 0 256 1,310 Mar-18 0 219 1,092 Jun-18 0 247 844 Sep-18 0 163 681 Total 21,769 21,088 681 Kaikōura earthquakes Total international reinsurance claims from all Kaikōura earthquakes are estimated at $1.3 billion. At 30 September 2018, a total of $663 million of these claims had been settled with overseas reinsurers, leaving $635 million of claims outstanding. These outstanding insurance claims are included as assets in New Zealand's international investment position. See the table below for details. Updated reinsurance claim estimate - Kaikōura earthquakes Quarter Total Reinsurance Claims Settlements Total Outstanding Claims NZ$(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 Total 1,298 663 635 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 en-NZ