2023 New Zealand experienced its two most costly weather events on record, with Cyclone Gabrielle and Auckland Anniversary flooding causing combined NZ$11.99bn economic loss and NZ$4.

Aon's 2024 Climate and Catastrophe Insights Report reveals New Zealand experienced its two most costly weather events on record, with Cyclone Gabrielle causing NZ$6.4bn in economic loss and NZ$2.02bn in insured loss, and the 2023 Auckland Anniversary flooding causing NZ$5.57bn in economic loss and NZ$2.23bn in insured loss. These events surpassed the previous high of NZ$202m from the Timaru hailstorm in 2019.