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Insured Losses for New Zealand North Island Floods Estimated at NZ$1.8B: PERILS

May 8, 2023

Insured losses for New Zealand’s North Island floods of Jan. 27 to Feb. 2 are estimated at NZ$1.75 billion ($1.1 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data.

This second PERILS’ loss estimate has risen from the initial estimate of NZ$1.65 billion ($1 billion), issued on March 15.

The loss estimate covers the property lines of business and is based on loss data collected from the New Zealand insurance market. An updated estimate will be issued Aug. 2, 2023, six months after the event end date.

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