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 31 December 2018, a total of $21.4 billion of these claims had been settled with overseas reinsurers, leaving $0.3 billion of claims outstanding. These outstanding insurance claims are included as assets in New Zealand's international investment position. See the table below for details. Updated reinsurance claim estimate - Canterbury earthquakes Quarter Total Reinsurance Claims Settlements Total Outstanding Claims NZ$(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 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 Total 21,769 21,436 332 Kaikōura earthquakes Total international reinsurance claims from all Kaikōura earthquakes are estimated at $1.3 billion. At 31 December 2018, a total of $698 million of these claims had been settled with overseas reinsurers, leaving $600 million of claims outstanding. These outstanding insurance claims are included as assets in New Zealand's international investment position. See the table below for details. Updated reinsurance claim estimate - Kaikōura earthquakes Quarter Total Reinsurance Claims Settlements Total Outstanding Claims NZ$(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 Total 1,298 698 600 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