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The event is the most costly wildfire loss to hit New Zealand in recent times.
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Suncorp, IAG and QBE reinsurers could face significant recoveries after a landmark court ruling.
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The pact over Canterbury earthquake payouts stretching back almost a decade will generate a NZ$9.5mn write-off for the carrier.
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Books are scheduled to close on Monday, with final pricing being decided on Tuesday. -
A fresh BI ruling in Australia this week highlighted the industry's reason for caution over Covid exposure as legal actions continue.
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Retro deals make up a third of this year's volumes, versus a quarter in 2019.
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The carrier’s annual catastrophe losses ticked up to $2.9bn in October.
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The carrier said its new EUR750mn funds from Covea would help to reduce financing costs.
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This third payment will be the largest yet received by Central American country.
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Nearly 80% of respondents said underwriting capacity decreased in the quarter.
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The storm, which made landfall with wind speeds of 155 mph, is expected to weaken by Wednesday.
