Optimism for Christchurch's future

The securing of continuing insurance cover is one of the reasons Roger Sutton is optimistic about Christchurch following its devastating earthquakes.



The chief executive of the Canterbury Earthquake Recovery Authority told a Building Nations Symposium in Wellington on Tuesday that the Earthquake Commission had just been around the world talking to re-insurers.

"They got re-insurance for New Zealand, they got re-insurance for Christchurch, they got re-insurance for the land," he said.

He said this was incredibly important for New Zealand.

"While re-insurance is costing us more, we still have it," he said.

Mr Sutton said he was optimistic about the future of Christchurch because of the ongoing insurance cover and because the city had a strong sense of community.

He said the Christchurch economy was "going gangbusters".

"We've had this outrageous series of earthquakes and all the economic indicators are strong, exports through the port have never been higher and the production sector is unaffected," he said.

David Green, managing director of ANZ's institutional division in New Zealand, told the conference that "what happens to Christchurch matters to New Zealand".

He said the city has the South Island's busiest port and airport.

The province of Canterbury made up more than half of the South Island's economy and 12 per cent of national gross domestic product.

The region was already out-performing, he said.