Western Pacific Insurance liquidator Grant Thornton has recovered $NZ46,392 ($41,313) of unremitted premiums from brokers in the past six months.

In the latest creditor’s report on the failed New Zealand insurer, the liquidator says it is still pursing brokers through the courts to recover the outstanding premiums.

“Claims have been served on the relevant brokers and we are continuing with the court process in the coming months,” the report said.

“Any funds realised from this process will be for the benefit of preferential and unsecured creditors, including any shortfall from earthquake claims.”

The report says Grant Thornton have completed 192 out of the 205 open claims assessments stemming from the two Christchurch earthquakes.

A total of 72 claims valued at $NZ31.98 million ($28.4 million) have been accepted from the two events.

There are still 120 assessed claims with a provisional value of $NZ27.51 million ($24.49 million) and 13 partially assessed claims with an estimated value of $NZ6.53 million ($5.8 million).

In total there are 214 claims from the two events with an estimated value of $NZ66.02 million ($58.7 million), well in excess of the Western Pacific original estimate of $NZ23 million ($20 million).

By March 31, the liquidators had received $NZ5.4 million ($4.8 million) from the reinsurers and expected to receive another $NZ28.5 million ($25.3 million) subject to costs.

The total estimated unsecured claims of Western Pacific now stands at $NZ17.6 million ($15.6 million) and these include $NZ10,967 ($9,765) of broker commissions.

The bulk of these sums are for $NZ15.6 million ($13.8 million) of insurance claims in addition to the Canterbury earthquake events.