Western Pacific Insurance’s liquidator says the last eight claims arising from the Canterbury earthquakes were expected to be completed by the end of last month, covering $NZ5.6 million ($5.3 million).

Grant Thornton says total claims from the two quakes are now put at $NZ64.8 million ($62 million), with $NZ50.7 million ($48.5 million) settled.

The amount of reinsurance the liquidators estimate they can recover is $NZ33.9 million ($32.4 million). By the end of last month they had received $NZ6.9 million ($6.6 million).

Grant Thornton hopes to recover the outstanding amount by the end of this year, according to its latest report on the failed insurer.

Western Pacific Insurance went into liquidation on April 1 2011.