Western Pacific Insurance’s liquidator says all claims relating to the Canterbury earthquakes have now been assessed by loss adjusters.

Grant Thornton says 215 claims have been valued at a combined $NZ64.98 million ($61.94 million), with $NZ56.42 million ($53.78 million) settled.

Twenty-six claims worth $NZ8.56 million ($8.16 million) are awaiting discharge sign-off, the liquidator says in an update.

“Distributions to Canterbury policyholders will be made after all earthquake claims have been agreed with insureds and after sufficient funds are received from reinsurers.”

By August 23 $NZ9.51 million ($9.06 million) had been received from reinsurers, after allowing for premiums paid and deducted.

Grant Thornton expects to recover reinsurance funds totalling $NZ33.87 million ($32.28 million).

Western Pacific Insurance went into liquidation on April 1 2011. Its background was examined in a cover story in the August edition of Insurance News (the magazine).