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January storm losses hit $25 million: ICNZ

Insurance losses from New Zealand’s first major storm of the year have reached $NZ26.7 million ($25 million), industry figures show.

Insurance Council of New Zealand (ICNZ) CEO Tim Grafton says the storm early last month caused heavy flooding and damage in the Coromandel and Bay of Plenty regions, particularly hitting the towns of Thames and Kaiaua.

More than 3600 claims have been placed with private insurers. Final figures are expected by the end of May.

The total includes 2752 house and contents claims with losses of $NZ15.48 million ($14.48 million) and 459 commercial claims with losses at $NZ8.5 million ($7.9 million).

An ICNZ spokesman says it is too early to estimate losses from the remnants of Cyclone Gita, which hit the country last week. The storm caused flooding and closed roads, with Kaikoura receiving 28% of its average annual rainfall in 18 hours.

States of emergency were declared in Buller, Selwyn District, Grey District, Westland, Taranaki, Nelson-Tasman and Christchurch.