GlobalData forecasts sector to grow by 7.3% CAGR to NZ$12.9bn (US$7.87bn) in 2028, but profitability to remain volatile due to nat cats and reinsurance rates.
130 executives face temporary salary reductions up to 50%, as insurers submit business improvement plans following investigation into co-insurance policy collusion.
AM Best assigns 'exceptional' National Scale Rating, while spotlighting general insurer's technology and analytics strategy to sustain market position.