Asia-Pacific

NZ quake response seen as impress globally

(Xinhua)
Updated: 2010-10-17 20:37

WELLINGTON -- New Zealand Finance Minister Bill English has said New Zealand's response to the Canterbury earthquake has been internationally heralded, which could create a commercial opportunity.

He said authorities globally are impressed that New Zealand endured a magnitude 7.1 earthquake on September 4 without any deaths, or more widespread damage.

English said, for example, he's met representatives of one of the reinsurance companies, Lloyds, which he said will be paying hundreds of millions of dollars, Radio New Zealand reported on Sunday.

He added that Lloyds is satisfied with the earthquake response and does not feel it's necessary to send a representative from London to oversee its interests.