The Solomon Islands and Fiji had escaped largely unscathed, compared with Vanuatu.
The company had prepared for an influx of claims with the event also veering down the east coast of New Zealand.
''The reality has been lighter than expected.
"As of Monday afternoon, Tower had received only a dozen or so New Zealand-based claims at an anecdotal average of about $10,000 per claim.
"Based on this information, we expect claims relayed to Cyclone Pam to remain in the hundreds of thousands [of dollars].''
Forsyth Barr expected the aftermath of Cyclone Pam would slow down any expansion into Vanuatu and potentially bring additional competition into the market, as companies looked to capitalise on new, high-specification buildings and potentially higher premiums.
''We believe Tower will continue to look into expansion into the Pacific and expect an update during this fiscal year.''
While plenty had been made of new insurance entrant Youi's initial growth in the Australian market, Ms Kinnaird said she struggled to see the company making a large impression in New Zealand short-term.
Youi's New Zealand platform did not yet allow for online quotes, and a lengthy phone call was required for a quote.
Forsyth Barr pricing trials also suggested the pricing was not more attractive compared with Tower or competitors.
What happened
Weather event: Cyclone Pam has devastated Vanuatu and delivered a glancing blow to Fiji, Solomon Islands and New Zealand's northeast coast.
Potential effects: Tower does not have any current exposure to Vanuatu. However, its plans to grow into the region will be slowed following this event.
