Vero New Zealand expects to return to pre-earthquake levels of profitability “pretty quickly”, according to CEO Gary Dransfield.

“We would anticipate [the business] could rapidly start exceeding its earnings from before the earthquake,” he said.

The Suncorp-owned operation contributed an insurance trading result of $37 million in the six months to December 31, up from $13 million in the previous corresponding period.

Gross written premium growth of 12.1% to $464 million was achieved across all distribution channels and personal and commercial lines.

“You can see from the last half’s numbers [that] we are in the territory of what this business can produce in a more stable environment,” Mr Dransfield said.

Work continues on Vero NZ’s strategic review, which will cover key processes and technology.