AMI Insurance says up to four years will be needed to settle some insurance claims from the Canterbury earthquakes.
Chairman Kerry Nolan told Morning Report settlements for cash can be made immediately, but there could be years of delay for people who want to rebuild.
That's because available land has to be found, the land has to be stable and a code of building compliance has to be met.
The company, the largest single insurer of homes in Christchurch, has posted a $705 million loss in the year to June, however Mr Nolan has reiterated that it has cash assets, reinsurance cover of $1.2 billion and, if needed, a Government guarantee.
