Put simply, reinsurance is insurance for insurance companies. This is additional financial cover that enables us to make sure there are enough funds to pay all insurance claims in the case of a large-scale event.

Claims and costs arising from earthquakes, flood events and changing weather patterns are increasing in certain areas, which then sets the cost of reinsurance. By purchasing reinsurance, we can guarantee we’ll be there for our customers when they need us most, especially during those large-scale events that affect large areas of New Zealand.