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About us

About Countdown Insurance

Countdown Insurance is here to give Kiwi families peace of mind with simple and affordable insurance. This is new to Countdown, but our partner Cigna has been insuring New Zealanders for over 90 years. We bring the great value you find every day at Countdown. We cover all the important things, with policies that are easy to understand and we aim to keep your premiums as low as possible. So you and your family can keep enjoying life now and in the future.

Countdown's Bill Protection, Funeral Cover, Travel and Life Insurance policies are provided and underwritten by Cigna Life Insurance New Zealand Limited.  Only Cigna can approve and accept policies and Cigna will be responsible for all administration and claims relating to the policies.

Countdown's Pet Insurance policies are provided and underwritten by Southern Cross Benefits Limited. Only Southern Cross can approve and accept these policies and Southern Cross will be responsible for all administration and claims relating to the policies.

About Cigna

Cigna New Zealand is a leading specialist provider of insurance products and services including life, funeral, income protection, trauma, accidental death, travel and bill protection insurance. Cigna is committed to improving the lives of New Zealanders through health, well-being and sense of security solutions.

We've been operating in New Zealand for more than 90 years, and now protect close to 295,000 New Zealanders with our insurance policies.

Cigna New Zealand is part of Cigna Corporation, a Fortune 500 insurance company and one of the world's largest publicly owned companies.

A copy of Cigna's latest financial statements is available on request.

Financial strength

When it comes to choosing an insurance company, you should be able to trust your provider. Cigna New Zealand is in a strong financial position, so we’re better able to protect you in times of need. This can be seen with our Financial Rating and Solvency Standard.

Financial rating

We’re pleased to announce that we have earned an A- (Excellent) financial strength rating from A.M. Best Company Inc, an insurance rating provider.

Please visit ambest.com for more information.

The rating AM Best rating scale is:

For more information visit www.ambest.com/rating/guide.pdf

Solvency Standard

A Solvency Standard states that we have to hold a minimum amount of capital, so that we’re in a position to pay claims to our customers during unexpected events (such as earthquakes or pandemics).

All licensed life insurance companies must meet the Solvency Standard for Life Insurance Business. This is set by the Reserve Bank of New Zealand.

Cigna Life Insurance New Zealand Limited’s Solvency

We hold more than the minimum standard of capital with a very strong Solvency Margin.

As at 31 December 2016, the Minimum Solvency Capital required to be held by Cigna Life Insurance New Zealand Limited ("Cigna NZ") under the Reserve Bank of New Zealand's Solvency Standards for Life and Non-Life Insurance Businesses was $35.272m. The Actual Solvency Capital held by Cigna NZ as at 31 December 2016 was $99.092m representing a Solvency Margin of $63.820m and a Solvency Ratio of 281% of the minimum level of capital required.

The breakdown of these calculations between the Statutory Fund and the Shareholder Fund is shown in the following table:

 

Statutory Fund as at
31 December 2016
$’000

Shareholder Fund as at
31 December 2016
$’000

Aggregate for Cigna NZ as at
31 December 2016
$’000

Actual Solvency Capital

89,705

9,387

99,092

Minimum Solvency Capital

31,090

4,182

35,272

Solvency Margin

58,615

5,205

63,820

Solvency Ratio

289%

224%

281%

All figures are rounded to the nearest $000

Qualifying Financial Entity (QFE) Disclosure Statement

Effective from 1 July 2015.

Cigna Life Insurance New Zealand Limited (Cigna) is registered to provide financial adviser services as an insurer through our QFE advisers in the contact centre. As a QFE, Cigna takes responsibility for the financial adviser services provided by our QFE advisers.

Cigna is licensed and regulated by the Financial Markets Authority (FMA) for its financial adviser services. You can obtain information about financial advisers from the FMA and report information about Cigna or its QFE advisers to the FMA.

Financial Markets Authority contact details

Post: PO Box 1179, Wellington 6140
Phone: 0800 434 566
Website: fma.govt.nz

Cigna is registered on the Financial Service Providers Register. You can check our status on the register at fspr.govt.nz and whether other entities are a member of our QFE.

The information on this website is important and should help you decide on your insurance needs.

Should you require more information regarding investments or financial planning, you should consult a financial advisor.

If you have a complaint we are happy to discuss it. Please call us on 0800 99 77 00 (or +64 4 915 8777 if you are overseas), or email us on complaintsandquality.nz@cigna.com.

Also, Cigna is a member of the Insurance and Financial Services Ombudsman (IFSO) scheme, a free, independent service which can help settle any dispute you are unable to resolve with us.

Any dispute or action relating to your policy will be determined in accordance with New Zealand law.

IFSO Scheme contact details

Post: PO Box 10 845, Wellington 6143
Phone: 0800 888 202
Email: info@ifso.nz
Website: www.ifso.nz

Cigna contact details

Address: Level 24, Majestic Centre, 100 Willis St, Wellington 6011
Phone: 0800 99 77 00
Email: countdowninsurance@cigna.com

Resolving a problem

Although we strive to provide our customers with the highest possible level of service, there are times when you might encounter a problem. If you are unhappy with the service you have received, please call us immediately on 0800 99 77 00. In many cases, your issue may be resolved straight away by our customer service consultants. However, if they can't resolve the issue, our dedicated Customer Resolutions Manager will personally take on your case and will get in touch with you. Alternatively, you are welcome to put your concern in writing, our address is P O Box 24031 Wellington, and our email address is contactus.nz@cigna.com. We will undertake a thorough investigation of your concerns and inform you of the results.

The Insurance and Financial Services Ombudsman (IFSO)

The IFSO is a free, independent service for resolving insurance and savings disputes. Cigna is member of the IFSO. Helpful information concerning the IFSO and their role in complaint resolution can be found on their website  .

IFSO contact details

Post: P O Box 10 845, Wellington 6143
Phone: 0800 888 202
Email: info@ifso.nz

Statutory Fund Notification

Cigna is required under the Insurance (Prudential Supervision) Act 2010 to establish a Statutory Fund. For all Cigna's life insurance policyholders we advise that the Statutory Fund relevant to your policies are Cigna's Statutory Fund Number One.

Our history

Cigna New Zealand is part of Cigna Corporation, a Fortune 500 company and one of the world's largest publicly-owned insurance and financial services companies. Cigna Corporation has a long tradition of service stretching back over 200 years.

International strength

Cigna's international operations began in the late 19th century when INA marketed insurance on three continents through general agents, and later through foreign offices. Cigna's other founding company, Connecticut General traded internationally from 1962.

In 1984, Cigna Worldwide was formed and became one of the largest international insurance operations. From our American roots in Philadelphia and Hartford, we have branched into Asia and the Pacific Rim countries, into Europe and throughout the Americas.

Today, Cigna is one of a handful of organisations that offers truly international insurance, benefits and financial products and services. In major markets around the world, Cigna Corporation's operating subsidiaries provide an integrated suite of medical, dental, behavioural health, pharmacy and vision care benefits, as well as group life, accident and disability insurance, to approximately 46 million people.

New Zealand operations

In New Zealand, Cigna's heritage dates back over 90 years to just after the First World War. We evolved out of two insurance companies, INA, which started conducting business in New Zealand in 1919 and Monarch Life Insurance Limited, which was first registered in 1968.

In 1986, after various mergers and takeovers, Cigna Life Insurance New Zealand Limited was born. We now protect more than 295,000 New Zealanders with policies ranging from disability cover to term life insurance.