New Zealand Quake May Boost Asia-Pacific Reinsurance Prices
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New Zealand’s deadliest earthquake in eight decades, which toppled buildings and trapped workers in Christchurch, the country’s second-largest city, may lead to higher prices for reinsurance in the Asia-Pacific region.
Rates may climb as companies including Munich Re and Swiss Reinsurance Co. take losses, compounding costs from last month’s flooding in Queensland, Australia, Credit Suisse Group AG wrote in a note to clients on Feb. 22. Reinsurance rates in other regions probably won’t be affected, Credit Suisse said.