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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 for the half year ending 30 June 2020 is shown below. The Actual Solvency Capital as at 30 June 2020 exceeds the minimum requirements by $36,734,000.

Half year 30 June 2020
  Non-life($000) Life($000) Total Entity ($000)
Actual Solvency Capital 68,831 50 68,881
Minimum Solvency Capital 32,132 15 32,147
Solvency Margin Excess 36,699 35 36,734
Solvency Coverage Multiple 2.14x 3.34x 2.14x

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 code and information about the Code is available at www.icnz.org.nz and on request.

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