The liquidators of failed New Zealand insurer Western Pacific have submitted $NZ41.6 million ($31.13 million) of claims from the Canterbury earthquakes to reinsurance brokers.

David Ruscoe and Richard Simpson of Grant Thornton say about 34% of claims are still being assessed, down from 75% in the last creditors’ report in July.

Most claims being assessed are “small in value”.

Loss adjusters are handling 141 claims estimated at $NZ20.9 million ($18.65 million) and have assessed 56 claims worth $NZ41.6 million ($37.13 million).

The liquidators have closed 10 claims without any payments being made.

Grant Thornton expects to complete loss assessments for the quake claims by September 30, as outlined in the previous update.

Western Pacific collapsed in 2011 after the Canterbury quakes.

Its only asset is $NZ32.19 million ($28.73 million) in reinsurance for estimated quake claims of $NZ58.8 million ($52.47 million).