New Zealand’s NHC to seek reinsurance broking services ahead of 2027 renewal

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 Crown entity, which provides natural disaster insurance cover to residential property owners across New Zealand, will issue a Request for Information (RFI) in early November 2025, followed by a Request for Proposals (RFP) in late April or early May 2026.

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 , 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.

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