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Chubb General Insurance

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 General Insurance New Zealand Resources

Solvency Information

Chubb Insurance New Zealand Limited’s solvency information for the year ending 31 December 2022 is shown below. The Actual Solvency Capital as at 31 December 2022 exceeds the minimum requirements by $32,500,000.

31 December 2022
  Non-life($000) Life($000) Total Entity ($000)
Actual Solvency Capital 69,462 50 69,512
Minimum Solvency Capital 36,999 13 37,012
Solvency Margin Excess 32,463 37 32,500
Solvency Coverage Multiple 1.88x 3.88x 1.88x

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 and on request.

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