The Natural Hazards Commission Toka Tū Ake (NHC) has announced plans to begin a new procurement process for reinsurance broking services, as it looks ahead to the next stage of its reinsurance programme starting in 2027.
The goal is to select a preferred broker by August 2026, with services expected to commence in January 2027.
NHC described reinsurance broking services as a “critical component” of its risk financing operations, serving as the key link between NHC and global reinsurance markets.
The selected broker will reportedly provide analytics, market access and placement support to ensure alignment with NHC’s long-term risk financing strategy.
Aon has acted as NHC’s reinsurance broker since 2017, following a two-stage tender that began that year.
“Over those seven years, we have secured a significant boost in reinsurance protection for New Zealand from $4.5 billion in 2017 to $10.3 billion locked in from 1 June 2025, which includes $225 million from a multi-year catastrophe bond placed in 2023,” NHC said.
The $10.3 billion figure marked an increase of $1.15 billion from June 2024’s total reinsurance cover.
You can read more on this Totara Re Pte. Ltd. (Series 2023-1) catastrophe bond, and all others, in the Deal Directory of our sister publication, Artemis.
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