Perils estimate of New Zealand flood losses rises to NZ$1.9bn

03 August 2023

Perils has increased its loss estimate for the floods that hit the North Island of New Zealand at the start of the year to NZ$1.995bn ($1.21bn), from the NZ$1.75bn quoted three months on from the event.

This had already climbed from NZ$1.65bn reported on 15 March.

Personal lines property accounts for 69% of total losses, while commercial lines property makes up 31% of the total industry loss.

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