DOCSLIB.ORG

Fire & General Insurance Providers

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Fire & General Insurance Providers FIRE & GENERAL INSURANCE PROVIDERS COMPANY FINANCIAL STRENGTH RATING RATING AGENCY AIG Asia Pacific Insurance Pte Ltd A A M Best A+ Standard & Poor’s AIG Insurance NZ Ltd A Standard & Poor’s Allianz Australia Insurance Limited AA- [*] Standard & Poor’s Ando (UK) Insurance Group Limited Refer Lloyd’s Ando Insurance Group Limited A- [*] A M Best (underwritten by Hollard Insurance Company Pty Ltd) AWP Services New Zealand Limited A- [*] A M Best trading as Allianz Partners (underwritten by Hollard Insurance Company Pty Ltd) Berkshire Hathaway Speciality Insurance A ++ A M Best (incl. BHSI Facilities) AA+ Standard & Poor’s Chubb Insurance New Zealand Ltd AA- Standard & Poor’s Classic Cover (underwritten by Lumley a Refer NZI a division of IAG New business division of IAG New Zealand Ltd) Zealand Ltd Cover-more (NZ) Ltd Refer Zurich New Zealand Dealersblock Insurance (Bus) Refer NZI a division of IAG New Zealand Ltd Delta Insurance NZ Ltd Refer Lloyd’s Delta Property Insurance Limited Refer Lloyd’s Dual New Zealand Ltd Refer Lloyd’s Ed Brokering LLP Refer Lloyd’s GT Insurance Refer Allianz Australia Insurance Limited HDI Global SE, Australia A+ [*] Standard & Poor’s Insurance Wholesale Limited Refer Lloyd’s International Underwriting Agencies Ltd Refer Lloyd’s, NZI a division of IAG New Zealand Ltd:-as advised Lumley, a business division of IAG New Refer NZI a division of IAG New Zealand Ltd Zealand Ltd NZI a division of IAG New Zealand Ltd AA- Standard & Poor’s (Incl. NZI Standard) NZI and Vero Insurance Refer NZI a division of IAG New Zealand Ltd and Vero Insurance NZ ltd Nautilius Marine Underwriting Agency Ltd Refer Zurich New Zealand Lloyd’s (London ) A+ Standard & Poor’s AA- Fitch A A M Best MECON Insurance Ltd Refer AIG Insurance NZ Ltd NAC Insurance Refer NZI a division of IAG New Zealand Ltd Primacy Underwriting Management Ltd Refer Allianz Australia Insurance Ltd Protecsure Pty Ltd (underwritten by Chubb AA- [*] Standard & Poor’s Insurance Company of Australia Limited (NZ) ) Protecta Insurance New Zealand Ltd A A M Best (Underwitten by Virginia Surety Company inc) Proteus Marine Insurance Refer Zurich New Zealand QBE Insurance (Australia) Limited A+ [*] Standard & Poor’s Rosser Underwriting Refer Chubb, Zurich, Lloyd’s:-as advised Rosser Underwriting (UK) Refer Lloyd’s Star Underwriting Agents Ltd Refer Vero Insurance NZ Ltd Swann Insurance Refer NZI a division of IAG New Zealand Ltd The New India Assurance Company B++ A M Best Limited TLC Insurance Limited Refer Lloyds, Berkshire Hathaway Specialty Insurance, Vero Liability:- as advised Topsail Insurance Pty Limited Refer Lloyd’s Velos Insurance Services Ltd Refer Lloyd’s as shown advised Vero Insurance NZ Ltd (Auckland, A+ Standard & Poor’s Hamilton, Timaru) (Incl. Vero Marine Insurance, Vero Liability Insurance Ltd) Zurich New Zealand (underwritten A+ [*] Standard & Poor’s by Zurich Australian Insurance Limited).( Incl. Zurich Auto, General, Zurich Marine) LIFE INSURANCE PROVIDERS COMPANY FINANCIAL STRENGTH RATING RATING AGENCY AIA New Zealand Limited AA (Very Strong) Fitch AMP Life Limited A- Standard & Poor’s Asteron Life A+ Standard & Poor’s Cigna New Zealand A (Excellent) A.M. Best Fidelity Life Assurance Ltd A- (Excellent) A.M. Best Partners Life A- (Excellent) A.M. Best HEALTH INSURANCE PROVIDERS COMPANY FINANCIAL STRENGTH RATING RATING AGENCY Accuro Health Insurance B+ A.M. Best AIA New Zealand Limited AA (Very Strong) Fitch NIB A- (Strong) Standard & Poor’s Partners Life A+ A.M. Best Southern Cross Medical Association A+ (Strong) Standard & Poor’s Unimed A (Excellent) A.M. Best KIWISAVER PROVIDERS COMPANY FINANCIAL STRENGTH RATING RATING AGENCY Booster Investment Management Limited N/A N/A RATINGS AGENCIES [*] Ratings carry an “Australian Policy Holder Preference” clause. However all non-life insurers operating in New Zealand are subject to Reserve Bank solvency requirements. PIC Insurance Brokers Ltd cannot guarantee the solvency of an Insurer. If you require any further information on these companies or their financial statements please do ask us. .
Load more

Recommended publications
  • Announcement
    Announcement QBE Asia wins Digital Insurance and two Claims Initiative Awards in Hong Kong and Singapore Hong Kong and Singapore, 15 Aug 2021 - QBE Asia, part of the International Division of QBE Insurance Group Limited, has won a total of three Claims and Digital Initiative awards at the Insurance Asia Awards 2021. These awards recognise the company’s outstanding achievement in providing seamless and convenient digital claims experiences for our business partners and customers. In Hong Kong, QBE extended its Digital Claims platform’s capability for home insurance in January 2021 following the success with its first introduction of the Digital Claims platform in 2019. It is an integrated platform where customers can manage both home claims and repairs simultaneously. Claims can be submitted, processed, and paid 24/7 anywhere and on any web-based device. Customers will be connected and auto matched to QBE’s network of adjusters and panel home contractors according to their needs and the nature of the home damage. Furthermore, they can also enjoy a faster repair survey and claims settlement via a single touchpoint with exclusive benefits on repairs. This will speed up their home damage recovery progress and allow them to return to normal daily lives quickly. “At QBE Hong Kong, we put our customers at the centre of all that we do, we understand our customers’ pain points and we are committed to provide a seamless claims process and value-added experience that will help them get back on their feet quickly.” said Lei Yu, Chief Executive Officer for North Asia and Regional Head of Distribution, QBE Asia.
    [Show full text]
  • Part VII Transfers Pursuant to the UK Financial Services and Markets Act 2000
    PART VII TRANSFERS EFFECTED PURSUANT TO THE UK FINANCIAL SERVICES AND MARKETS ACT 2000 www.sidley.com/partvii Sidley Austin LLP, London is able to provide legal advice in relation to insurance business transfer schemes under Part VII of the UK Financial Services and Markets Act 2000 (“FSMA”). This service extends to advising upon the applicability of FSMA to particular transfers (including transfers involving insurance business domiciled outside the UK), advising parties to transfers as well as those affected by them including reinsurers, liaising with the FSA and policyholders, and obtaining sanction of the transfer in the English High Court. For more information on Part VII transfers, please contact: Martin Membery at [email protected] or telephone + 44 (0) 20 7360 3614. If you would like details of a Part VII transfer added to this website, please email Martin Membery at the address above. Disclaimer for Part VII Transfers Web Page The information contained in the following tables contained in this webpage (the “Information”) has been collated by Sidley Austin LLP, London (together with Sidley Austin LLP, the “Firm”) using publicly-available sources. The Information is not intended to be, and does not constitute, legal advice. The posting of the Information onto the Firm's website is not intended by the Firm as an offer to provide legal advice or any other services to any person accessing the Firm's website; nor does it constitute an offer by the Firm to enter into any contractual relationship. The accessing of the Information by any person will not give rise to any lawyer-client relationship, or any contractual relationship, between that person and the Firm.
    [Show full text]
  • The General Insurance Number
    The General Insurance Number Hamilton remains self-condemning after Damian rechristens ruefully or flake any supposal. Reynolds never relearns any fetterlocks kecks hazardously, is Mischa slushier and sparkly enough? Web misdoing intricately. The engine Car Insurance Bankrate Bankratecom. National general insurance phone number. Contact MIC Insurance via the web First Name about Name Email Address Phone Number Inquiry Type Comments Submission Validation. Or pain call 20-71-31 directly to credential a direct work number really an agent to. Quickly obtain a tank for life new auto insurance policy with annual General. Pay off Phone 1-00-396-145 CDI License Number 0H45142 2021 All summit General. What lost The unique car insurance customer care line to inject the insurance claims process The paid car insurance phone number nor a 24-. Correspondence National General Insurance PO Box 3199 Winston-Salem NC 27102-3199. National General Insurance Insurance Company James E. Who really splash the cheapest car insurance? Mexico by the general insurance number of choices means the general coverage and discounts does the use their toll free free and bbb business. With a famous service agent from artificial General myself I like to comment about his. Wawanesa Insurance received the highest score in California in the JD Power 2020 US Auto Insurance study of customers' satisfaction with their auto. The General welcomes your gown Please call us at 144327970144. Atlas General Insurance Services Home. Interested in open General's auto insurance policies for high-risk drivers. Chubb Samaggi Customer service Below increase the quick accesses to useful information and forms If you plot any enquiries or the further information please.
    [Show full text]
  • Overwhelmed an Overview of Factors That Impact Upon Insurance Disclosure Comprehension, Comparability and Decision Making, September 2018
    Overwhelmed An overview of factors that impact upon insurance disclosure comprehension, comparability and decision making, September 2018 Monash University and the Financial Rights Legal Centre, with the support of funding from the Victorian Fire Services Levy Monitor have produced a report titled: (In)effective Disclosure: A study of consumers purchasing home and contents insurance1. The experimental study aimed at examining how the newly introduced requirement for providing a Key Fact Sheet (KFS) for home and contents insurance enhances consumer perceptions and decision outcomes. The study in particular examined how: (i) consumers engage with the KFS and/or Product Disclosure Statement (PDS) at the point of sale; (ii) consumers perceive the information provided by the KFS and/or PDS; and (iii) the obtaining of this information and knowledge leads to perceptible changes in consumer decision-making behaviour. The study tested engagement, comprehension and behaviour of consumers in a specifically designed, experimentally controlled environment that nevertheless reflected the insurance purchasing process, albeit a simplified version. The study limited the number of parameters to ensure that the participant respondents were, in a sense, given the best chance to select the best PDS or KFS. For example, all tested policies were equally priced. Policies were non-branded to control for the effect of brand names. PDSs were reduced in size to 20 pages each rather than the usual 80 plus pages. KFSs also closely matched the legislated requirements but the number of covered events was reduced. The decision to essentially simplify the KFS and PDS and control for as many factors as possible, was made to ensure that the findings were obtained in as optimized a purchasing and decision-making context as possible.
    [Show full text]
  • IAG Corporate Profile March 2021
    IAG corporate profile March 2021 IAG is the parent company of a general insurance group with controlled operations in Australia and New Zealand It is listed on the Australian Securities Exchange (ASX) with ordinary shares trading under the ticker “IAG.” References in the remainder of this profile to IAG and to “the Group” are to IAG and its subsidiaries on a consolidated basis. Financial data for the 12-month period ended 30 June 2020 and a more comprehensive review of IAG and its operations is contained in the 2020 annual report and the FY20 Investor Report dated 7 August 2020. The IAG FY20 Investor Report is available in the Results & Reports section of the Group’s website (www.iag.com.au). IAG’s current businesses underwrite $12 billion of gross written premium (“GWP”) per annum, selling insurance under many leading and established brands in Australia and New Zealand. IAG also has an interest in a general insurance joint venture in Malaysia. Brief history From its beginnings as a motor vehicle insurer in New South Wales (“NSW”), Australia, IAG has grown to become a general insurance group diversified by product, distribution channel and geography. The Group’s heritage dates back to 1920 when the National Roads and Motorists’ Association (“NRMA”) was established and subsequently offered motor insurance to its members. Following demutualisation in 2000, the insurance arm of NRMA was listed on the ASX as NRMA Insurance Group Limited, and renamed Insurance Australia Group Limited in 2002. The Group grew organically and through acquisitions primarily in its home market of Australia, and in New Zealand.
    [Show full text]
  • IN the COURT of APPEAL of NEW ZEALAND CA776/2013 [2014] NZCA 447 BETWEEN QBE INSURANCE (INTERNATIONAL) LIMITED Appellant AND
    IN THE COURT OF APPEAL OF NEW ZEALAND CA776/2013 [2014] NZCA 447 BETWEEN QBE INSURANCE (INTERNATIONAL) LIMITED Appellant AND WILD SOUTH HOLDINGS LIMITED AND MAXIMS FASHIONS LIMITED Respondents CA881/2013 AND BETWEEN PETER STANLEY MARRIOTT AND EUNICE ANN MARRIOTT Appellants AND VERO INSURANCE NEW ZEALAND Respondent CA65/2014 AND BETWEEN CRYSTAL IMPORTS LIMITED Appellant AND CERTAIN UNDERWRITERS AT LLOYDS OF LONDON First Respondents SIRIUS INTERNATIONAL INSURANCE GROUP LIMITED Second Respondent Hearing: 5, 6 and 7 August 2014 Court: Wild, French and Miller JJ Counsel: M R Ring QC and F W Rose for QBE Insurance (International) Ltd N R Campbell QC and S P Rennie for Wild South Holdings Ltd, Maxims Fashions Ltd and P S and E A Marriott D J Goddard QC and PJH Hunt for Vero Insurance New Zealand Ltd QBE INSURANCE (INTERNATIONAL) LIMITED v WILD SOUTH HOLDINGS LIMITED AND MAXIMS FASHIONS LIMITED CA776/2013 [2014] NZCA 447 [10 September 2014] Z G Kennedy and I Rosic for Crystal Imports Ltd B D Gray QC and K Pengelly for Certain Underwriters at Lloyds of London and Sirius International Insurance Group Ltd Judgment: 10 September 2014 at 2.00 pm JUDGMENT OF THE COURT A The appeals and cross-appeals are allowed to the extent set out at [138]– [149] of the judgment. B Costs are reserved. ____________________________________________________________________ REASONS OF THE COURT (Given by Miller J) TABLE OF CONTENTS Introduction .............................................................................................................. [1] Facts and issues ........................................................................................................ [4] QBE v Wild South and Maxims Fashions (Fogarty J) ........................................... [5] Marriotts v Vero (Dobson J) ................................................................................... [9] Crystal Imports v Lloyds (Cooper J) ...................................................................
    [Show full text]
  • Clearance Determination – 25 July 2017
    ISSN 1178–2560 Decision Series Project no. 11.04/16369 Public version Determination Vero Insurance New Zealand Limited and Tower Limited [2017] NZCC 18 The Commission: Dr Mark Berry Sue Begg Graham Crombie Summary of application: An application from Vero Insurance New Zealand Limited seeking clearance to acquire up to 100% of the remaining ordinary shares in Tower Limited by way of a scheme of arrangement under Part 15 of the Companies Act 1993. Determination: Under section 66(3)(b) of the Commerce Act 1986, the Commerce Commission declines to give clearance to the proposed merger. Date of determination: 25 July 2017 2959187 2 Confidential material in this report has been removed. Its location in the document is denoted by [ ]. 2959187 3 CONTENTS EXECUTIVE SUMMARY ................................................................................................................5 THE PROPOSED MERGER .............................................................................................................6 Summary of the proposed merger ................................................................................................ 6 Applicant’s rationale for the merger ............................................................................................. 6 Our decision .................................................................................................................................. 6 OUR FRAMEWORK ......................................................................................................................6
    [Show full text]
  • General Disclosure Statement
    Aon General Disclosure Statement Thank you for considering Aon New Zealand (Aon). This document contains the disclosures that Aon must provide to you. This document explains: . who Aon is; . the duties that we owe to you; . the nature and scope of the advice we can give; . how we may be remunerated (including details of the fees that we charge and the commissions that we may receive); . the material conflicts of interest that currently exist or that may arise in the future in relation to the advice we can give; and . our service issues and complaints handling and disputes resolution procedures. About Aon The information in this document is issued by Aon. Our head office contact details are: Aon New Zealand PO Box 1184, Auckland 1140 29 Customs Street West, Auckland 1010 Aon is a leading provider of insurance and risk services. It is part of the Aon Group, which is a global leader in the design and provision of insurance, reinsurance, risk and employee benefit services. Aon is a Financial Advice Provider (FSP16841) and holds a transitional licence issued under the Financial Markets Conduct Act 2013 to provide a financial advice service. Our Duties Aon, and its advisers that provide regulated financial advice, are required to comply with duties under the Financial Markets Conduct Act 2013 when providing regulated financial advice to retail clients. These duties include: . meeting the standards of competence, knowledge, and skill set out in the Code of Professional Conduct for Financial Advice Services; . meeting the standards of ethical behaviour, conduct, and client care set out in the Code of Professional Conduct for Financial Advice Services; .
    [Show full text]
  • Nzhc 2956 Between Gregory Peter Young and Mall
    IN THE HIGH COURT OF NEW ZEALAND CHRISTCHURCH REGISTRY CIV-2015-409-000222 [2016] NZHC 2956 BETWEEN GREGORY PETER YOUNG AND MALLEY & CO TRUSTEES LIMITED AS TRUSTEES OF THE MCARA YOUNG TRUST Plaintiffs AND TOWER INSURANCE LIMITED Defendant Hearing: 29 August-2 September, 5-9 September & 14 October 2016 Appearances: P F Whiteside QC and H T Shaw for Plaintiffs M C Harris and ATB Joseph for Defendant Judgment: 7 December 2016 JUDGMENT OF GENDALL J YOUNG v TOWER INSURANCE LIMITED [2016] NZHC 2956 [7 December 2016] Table of Contents Para No Introduction [1] Factual background [4] Mr Sinclair instructed [31] The Policy [41] Approach to interpreting the policy [43] The plaintiffs’ claims [47] The defendant’s response [48] Issues [50] What is the extent of earthquake caused damage? [50] Is Tower’s repair strategy commonly used at the time of loss or damage? [54] (a) What is the repair method/strategy proposed by the defendant? [55] (b) Is the repair strategy proposed a construction method commonly used [68] at the time of the earthquakes? In the alternative, if the repair strategy is one commonly used, is the [82] damage economically repairable? (a) Will the proposed repair strategy work and return the house to an as [83] new condition? (b) The economic viability of the repair strategy? [100] Has Tower made an election to cash settle the plaintiffs’ claim? [122] Rebuild cost? [129] General and exemplary damages claim [145] Exemplary damages [147] General damages [151] Relief sought [178] Result [186] Costs [190] Introduction [1] This is a claim brought by the plaintiffs who have a residential property on the Christchurch hills insured through Tower Insurance Limited, the defendant company, which was significantly damaged as a result of the Canterbury earthquake sequence in 2010 and 2011.
    [Show full text]
  • Commerce Act 1986: Business Acquisition
    Commerce Act 1986: Business Acquisition Section 66: Notice Seeking Clearance for proposed acquisition of Lumley General Insurance (N.Z.) Limited by IAG (NZ) Holdings Limited Date: 19 December 2013 To: The Registrar Market Structure Team Commerce Commission PO Box 2351 Wellington By email: [email protected] Pursuant to section 66(1) of the Commerce Act 1986 notice is hereby given seeking clearance of a proposed business acquisition. PUBLIC VERSION All confidential information included in [square brackets]. 64008029.1 1 Contents Summary1 Part 1 Transaction Details 3 Part 2 The Industry 7 Part 3 Market Definition 14 Part 4 Counterfactual 21 Part 5 Competition Analysis 22 Part 6 Further Information and Supporting Documentation 55 Part 7 Confidentiality 61 Annexure 1 – IAG structure chart 63 Annexure 2 – Lumley structure chart 64 Annexure 3 – Sale and Purchase Agreement [Confidential Annexure] 65 Annexure 4 – Mutual Transitional Services Agreement [Confidential Annexure] 66 Annexure 5 – Google search trends 67 Annexure 6 – Market share estimates [Confidential Annexure] 69 Annexure 7 – Autoglass market shares [Confidential Annexure] 70 Annexure 8 – Collision repair market shares [Confidential Annexure] 71 Annexure 9 – Schedule of confidential information [Confidential Annexure] 72 64008029.1 1 Summary This is a notice seeking clearance for a proposed acquisition that will result in the personal and commercial insurance businesses IAG New Zealand Limited, AMI Insurance Limited (together, IAG) and Lumley General Insurance (N.Z.) Limited (Lumley) coming under common ownership of IAG (NZ) Holdings Limited (the Applicant). At its broadest, this is a transaction in one aspect of the financial services industry and, like many aspects of that industry, a number of large, often global, competitors are involved to a greater or lesser extent and at many levels.
    [Show full text]
  • 2019 Annual Report Limited Group Australia Insurance ABN 60 090 739 923 the Numbers The
    Insurance Australia Group Limited Limited Group Australia Insurance Annual Report 2019 Annual Report The numbers Annual Report 2019 Insurance Australia Group Limited ABN 60 090 739 923 Contents Directors’ report 1 Remuneration report 19 Lead auditor’s independence declaration 43 Consolidated financial statements contents 44 Consolidated statement of comprehensive income 45 About this report The 2019 annual report of Insurance Australia Group Limited (IAG, Consolidated balance sheet 47 or the Group) includes IAG’s full statutory accounts, along with the Consolidated statement of changes in equity 48 Directors’ and remuneration reports for the financial year ended 30 June 2019. This year’s corporate governance report is available Consolidated cash flow statement 49 in the About Us area of our website (www.iag.com.au). Notes to the financial statements 50 The financial statements are structured to provide prominence Directors’ declaration 98 to the disclosures that are considered most relevant to the user’s understanding of the operations, results and financial position Independent auditor’s report 99 of the Group. Shareholder information 104 IAG is a “dual listed issuer” that is listed on both the ASX and Corporate directory 107 the NZX Debt Market. As such, IAG is subject to some, but not all, of the NZX Main Board/Debt Market Listing Rules (“NZX Listing Five-year financial summary 108 Rules”). In particular, the rules set out in Appendix 17 to the NZX Listing Rules do not apply to IAG. All figures are in Australian dollars unless otherwise stated. 2019 annual review and safer communities report This report should be read with the 2019 annual review and safer communities report, which provides a summary of IAG’s operating performance, including the Chairman’s, CEO’s and CFO’s reviews.
    [Show full text]
  • Insurance Law and the Principle of Indemnity in Light of Ridgecrest Nz Ltd V Iag New Zealand Ltd
    73 INSURANCE LAW AND THE PRINCIPLE OF INDEMNITY IN LIGHT OF RIDGECREST NZ LTD V IAG NEW ZEALAND LTD Kasia Ginders* When the Supreme Court discussed the principle of indemnity in Ridgecrest NZ Ltd v IAG New Zealand Ltd, it was referred to as "awkward" in the context of a replacement policy. The application of the indemnity principle in the case raises further questions about the nature of the principle in insurance contracts. It is submitted that the indemnity principle is currently enforceable not as a legal test nor as a policy-based presumption; rather, it is applicable mostly because it is presumed the parties intended it to apply. This conclusion draws on both consideration of the rationales and rules of, exceptions to, and law reform concerning the principle. It also draws on analysis of the principle in light of Ridgecrest and two other recent cases following the Christchurch earthquakes that deal with the principle of indemnity. I INTRODUCTION The principle of indemnity in insurance law holds that an insured is entitled to receive a full indemnity for his or her loss, no more and no less. However, Ridgecrest NZ Ltd v IAG New Zealand Ltd (Ridgecrest), a 2014 case in the New Zealand Supreme Court, has brought the nature of the principle into question. When an insured building owned by Ridgecrest NZ Ltd (Ridgecrest) sustained damage in successive Canterbury earthquakes, the Supreme Court held that Ridgecrest could claim up to the full amount of the sum insured per happening, despite being underinsured and not having repaired the damage from the earlier quakes when the insured building became a total loss.
    [Show full text]