18 Nov 2014

Reinsurance costs falling

7:50 am on 18 November 2014

A dearth of disasters globally has led to a glut of capital in the international reinsurance market, and that has meant local insurance companies do not have to pay so much to spread their risks.

Standard & Poor's said the Government's Earthquake Commission's reinsurance bill has fallen 10 percent from 2013, although it was still higher than before the Canterbury earthquake.

The ratings agency said that was evidence that, although they learnt some harsh lessons from the quakes, global reinsurers were still committed to investing in New Zealand.

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