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New Zealand floods and cyclone may not trigger reinsurance: EQC

Posted On: Feb. 21, 2023 9:58 AM CST


Chris Chainey, chief financial officer of New Zealand's Earthquake Commission, said that the recent flooding and Cyclone Gabrielle that hit the country and caused significant damage are extremely unlikely to trigger its reinsurance arrangements, Artemis reported. Mr. Chainey said that the entity is looking to diversify its sources of risk capital and alternatives such as catastrophe bonds.