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INSURERS FACE MORE NZ QUAKE LOSSES
THE earthquake that hit Christchurch in New Zealand last week will leave Australia’s largest insurers including Insurance Australia Group, Suncorp and Lloyd’s insurer QBE exposed to rising reinsurance costs, rating agency Fitch said. The first quake, which devastated the city in March (pictured), has already caused around $8bn (£4.9bn) of insured losses.