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About Chubb in New Zealand

Corporate Social Responsibility at Chubb

Efforts in corporate social responsibility by Chubb for the betterment of society and Chubb employees in the long run

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Chubb in New Zealand

Chubb’s operation in New Zealand (Chubb Insurance New Zealand Limited) offers Property & Casualty, Group Personal Accident and Business Travel Insurance products through brokers. It leverages global expertise and local acumen to tailor solutions to mitigate risks for clients ranging from large multinational companies to local SMEs. Chubb in New Zealand also provides personal insurance solutions such as Masterpiece, a unique policy for people who own prestigious homes and valuable possessions.

Chubb Insurance New Zealand Limited (Company No. 104656 / Financial Services Provider No. 35924).

Chubb New Zealand Resources

Solvency Information

Chubb Insurance New Zealand Limited’s Solvency Information, as set out in our most recent full-year solvency return filed with the Reserve Bank of New Zealand for 31 December 2018, is shown below. The Actual Solvency Capital as at 31 December 2018 exceeds the minimum requirements by $23,278,000.

31 December 2018 
  Non-life($000) Life($000) Total Entity ($000)
Actual Solvency Capital 47,970 50 48,020
Minimum Solvency Capital 24,726 16 24,742
Solvency Margin Excess 23,244 34 23,278
Solvency Coverage Multiple 1.94x 3.09x 1.94x

The methodology and basis for determining the Solvency Margin are in accordance with the requirements of the Solvency Standards for Non-life and Life Insurance Business as published by the Reserve Bank of New Zealand. The Life business is in run-off and not material to the company's overall operation.

Financial Strength Rating Information

Chubb Insurance New Zealand Limited has an “AA-” insurer financial strength rating given by S&P Global Ratings.

The rating scale is:

AAA - Extremely Strong
AA - Very Strong
A - Strong
BBB - Good
BB - Marginal
B - Weak
CCC - Very Weak
CC - Extremely Weak
SD or D – selective default or default
R - Regulatory Action
NR – Not Rated

Plus (+) or minus (-):  the rating from ‘AA’ to ‘CCC’ may be modified by the addition of a plus or minus sign to show relative standings within the major rating categories.

A full description of the rating scale is available on S&P Global Ratings website.

Fair Insurance Code

We are a signatory to the Fair Insurance Code (the Code). The objectives of the Code are to establish high standards of service, promote confidence in the general insurance industry and improve relationships between insurers and their customers. Further information about the Code is available at www.icnz.org.nz and on request.