Tower has received 4810 claims relating to the floods which hit Auckland and the upper North Island from January 27 - a big jump up from the 1900 it reported receiving soon after the event on January 30.
The NZX-listed insurer noted most of the claims were for home insurance at 2660 with around 740 motor claims and the remaining number mostly contents claims with most claims relating to flood damage and some due to landslides.
Tower chief executive Blair Turnbull said the company remained financially strong with robust reinsurance cover and a well-capitalised balance sheet.
“Tower continues to invest in sophisticated underwriting capabilities and risk-based pricing which enhance our rating agility and accuracy and help to deliver sustainable margins.”
Tower chief financial officer Paul Johnston said it was continuing to assess the financial impact of the event but at this stage the company expected it would trigger Tower’s reinsurance cover for catastrophe events.