insuranceNEWS.com.au has published an analysis on how the impact of the Canterbury earthquakes has forced changes on New Zealand insurance companies. It is interesting reading and pushes the boundaries of our understanding quite a bit:
The saviours of New Zealand policyholders and the country’s credit rating have been the Australian insurers which dominate the New Zealand industry – IAG, Suncorp, QBE and Lumley.
The analysis, Christchurch forces new realities on New Zealand insurance, is here.
Also on insuranceNEWS.com.au is an article Australian ownership saved top NZ insurers (here). It is quite probably true as there is also a short article, using Statistics New Zealand figures, Quakes sent NZ insurers into deficit in 2011 (here).