Government response to Christchurch earthquake 2011
The cost of the 2011 Christchurch earthquake was substantial, with the British-owned Ansvar Insurance alone suffering $700 million worth of losses.
The overall cost of the earthquake was even higher, encompassing various aspects such as infrastructure damage, loss of life, and economic impact. However, the specific total cost of the earthquake is not provided in the search results.Reinsurance companies played a significant role in covering the costs of the earthquake. Reinsurance is a type of insurance that insurance companies purchase to protect themselves from the risk of large losses. In the case of the Christchurch earthquake, reinsurance companies would have paid out a portion of the costs incurred by the primary insurance companies. The exact details of how reinsurance companies paid out the costs are not available in the provided search results.