Financial Information

Financial Strength Rating Information

In New Zealand Combined Insurance is a division of Chubb Insurance New Zealand Limited. Chubb Insurance New Zealand Limited has an "AA-" insurer financial strength rating given by Standard & Poor's (Australia) Pty Limited. The rating scale is:

AAA         Extremely Strong BBB         Good CCC          Very Weak SD or D           Selective Default or Default
AA           Very Strong BB           Marginal CC             Extremely Weak R                      Regulatory Action
A              Strong B              Weak   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 standing within the major rating categories.

A full description of the rating scale is available on Standard & Poor's website.

 

Solvency Information

Chubb Insurance New Zealand Limited’s Solvency Information, as set out in our most recent full-yearly solvency return filed with the Reserve Bank of New Zealand for 31 December 2015, is shown below. The Actual Solvency Capital as at 31 December 2015 exceeds the minimum requirements by $22,022,000.

31 December 2015 (full-year)
  Non-life
($000)
Life
($000)
Total Entity
($000)
Actual Solvency Capital 44,520 50 44,570
Minimum Solvency Capital 22,526 22 22,548
Solvency Margin 21,994 28 22,022
Solvency Coverage Multiple 1.98x 2.3x 1.98x

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.


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