Catlin forecasts quake losses

INSURER Catlin yesterday said losses related to February’s New?Zealand earthquake would total around $125m (£78m).

The group said it would be months before the total amount of insured damage from the 6.3 magnitude earthquake could be assessed with precision.

The catastrophe killed more than 150 people and caused considerable and significant structural damage to both residential and commercial property.

Shares in Catlin closed down 1.59 per cent at 366.1p.