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New Zealand quake insured loss $2bn-$4.5bn

06 September 2010

Catastrophe modelling firm AIR Worldwide estimates that industry insured losses from the magnitude 7.0 earthquake that struck New Zealand's South Island near Christchurch on September 4 will be between NZD2.7bn and NZD6bn ($2bn and $4.5bn).

Read more: air worldwide

Catastrophe modelling firm AIR Worldwide estimates that industry insured losses from the magnitude 7.0 earthquake that struck New Zealand's South Island near Christchurch on September 4 will be between NZD2.7bn and NZD6bn ($2bn and $4.5bn). The earthquake has caused widespread but moderate damage in Christchurch, which has a population of about 350,000. AIR warns that gale force winds, which are forecast for Sunday, could pose additional...


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Poll

Catastrophe bond issuance was $4.3bn in 2011. How much new issuance will there be in 2012?

Less than $3bn
0%
$3bn-$4bn
43%
$4bn-$5bn
29%
$5bn-$6bn
14%
$6bn-$7bn
14%
More than $7bn
0%

Quote

If last year was the year of the cat, then this year could be the year of the debt crisis.

Mike Van Slooten, head of international market analysis at Aon Benfield