New Zealand’s Earthquake Commission (EQC) has completed 93% of residential building, 97% of contents and 98.5% of land settlements from the 2016 Kaikoura catastrophe.

About $NZ314.7 million ($295.6 million) has been paid to insurers that manage EQC customers and $NZ35.2 million ($33 million) to customers it directly manages.

The EQC, which is responsible for directly managing more than 5400 claims, had about 90 cases left to settle at the end of last month.

It expects to have less than 5% of building claims outstanding by the end of this month.