Chubb’s general insurance 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 small to medium enterprises. Chubb 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 Insurance New Zealand Limited’s solvency information for the period ending 30 June 2023 is shown below. The Solvency Capital as at 30 June 2023 exceeds the minimum requirements by $42,370,000.
|30 June 2023||Entire Insurer ($000)|
|Adjusted prescribed capital requirement||$41,291|
|Adjusted solvency margin||$42,370|
|Adjusted solvency ratio (%)||203%|
The methodology and basis for determining the adjusted solvency margin are in accordance with the requirements of the Interim Solvency Standard 2023.
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.