In another indication that insurance premiums will rise in the wake of disasters such as the Christchurch earthquake, the London trade journal Insurance Insider is predicting reinsurance premiums for the Earthquake Commission will go up by 130%.
The increase can be expected to filter through to the insurance premiums of homeowners.
Industry leaders reportedly say that the cost increase to households could be between 20% and 50% but nothing has been finalised.
Meanwhile, the recent run of natural disasters may cost Lloyd's of London about £2.4 billion.
Claims from the Japanese earthquake are estimated at £1.22 billion, while the New Zealand earthquake and flooding in Australia are put at £750 million and £406 million.
The impact of the tornadoes in the United States is yet to be assessed, but Lloyd's says all the disasters will mean insurance rates rising - though because of its financial health, meeting claims is not an issue.
Chief executive Richard Ward says the market's total exposure is well within its worst-case scenarios.
