Insurers are on track to settle the vast majority of Canterbury earthquake claims by the end of this year, the Insurance Council says.
Figures released by the council show that nearly $16.7 billion had been paid out by December 2015.
That figure included 139,858 domestic claims, to a total of $7.8 billion – less than half the total.
Insurance Council chief executive Tim Grafton said the figure reflected a 21 percent rise in the settlement rate last year, compared to 2014.
“That’s just absolutely massive in New Zealand history – as we know its been the biggest event this country has ever known in terms of damage.”
He said 5400 major repairs and rebuilds were settled last year.