Your insurance is underwritten by Chubb Life Insurance New Zealand Limited (Chubb Life).
Chubb Life has an A (Excellent) financial strength rating given by A.M. Best Company Inc.
A summary of the rating scale is: A++, A+ Superior | A, A- Excellent | B++, B+ Good | B, B- Fair | C++, C+ Marginal | C, C- Weak | D Poor | E Under Regulatory Supervision | F In Liquidation | S Suspended. For the full rating scale and more rating information visit www.ambest.com/ratings/guide.pdf
Secure |
|
|
Vulnerable |
|
|
A++ |
A+ |
Superior |
B |
B- |
Fair |
A |
A- |
Excellent |
C++ |
C+ |
Marginal |
B++ |
B+ |
Good |
C |
C- |
Weak |
|
|
|
D |
|
Poor |
|
|
|
E |
|
Under regulatory Supervision |
|
|
|
F |
|
In Liquidation |
|
|
|
S |
|
Suspended |
All licensed insurance companies must meet the requirements of the solvency standards for insurance business as set by the Reserve Bank of New Zealand. These solvency standards state that we must hold a minimum amount of solvency capital, so that we are in a position to pay claims to our customers during unexpected events (such as earthquakes or pandemics).
The adjusted solvency margin of Chubb Life NZ as at 30 June 2024 is $107.5m, of which $91.0m was the adjusted solvency margin of the Statutory Fund. The table below shows how the adjusted solvency margins are determined:
The solvency capital and the adjusted prescribed capital requirement are determined according to the solvency standards issued by the Reserve Bank of New Zealand, adjusted for any minimum solvency margin imposed by the Reserve Bank of New Zealand on us.
Adjusted solvency margin is the difference between the solvency capital and adjusted prescribed capital requirement. Adjusted solvency ratio is the solvency capital divided by the adjusted prescribed capital requirement, expressed as a percentage.
Chubb Life NZ is required under the Insurance (Prudential Supervision) Act 2010 to establish a Statutory Fund. For all Chubb Life NZ's life insurance policyholders, we advise that the Statutory Fund relevant to your policies is Chubb Life NZ's Statutory Fund Number One.