Insured losses from the event were estimated at US$300m, as global economic losses reached US$37bn, 43% below the 21st-century average and the lowest since 2015.
Insurers brace for complex multi-event claims as Vaianu cuts power to 5,000 homes and forces coastal evacuations across Northland, Waikato and Hawke's Bay.
Review says 71% of New Zealanders expect natural disasters to worsen, while 65% accept premiums may rise as weather losses and rebuilding costs increase.
China's property insurance market is poised for a five-year expansion, with Hong Kong's Wang Fuk Court fire sharpening focus on the home insurance protection gap that insurers are racing to close.
