New Zealand Secures Record NZ$12.3bn Reinsurance Program for Homeowners

The Natural Hazards Commission Toka Tū Ake (NHC) has secured a record NZ$12.3 billion reinsurance programme for 2026, a 20% rise from the previous year’s NZ$10.3 billion cover. The increase of NZ$2.1 billion includes a $225 million multi‑year catastrophe bond that will remain active until May 2027, and the overall programme was obtained on a more cost‑effective basis.

Commission chief executive Tina Mitchell said the expanded cover strengthens New Zealand’s ability to finance claims after major natural‑hazard events, supports recovery efforts, and helps protect the Crown’s balance sheet. She highlighted that the growth reflects strong confidence from international reinsurers in the country’s insurance scheme, its hazard modelling and resilience investments, and provides peace of mind for New Zealanders facing future disasters.