Cigna Life Insurance NZ: What Happened, and What You Have Now
Cigna Life Insurance New Zealand Limited no longer trades under that name. Chubb Limited completed its purchase of Cigna's New Zealand life insurance business on 1 July 2022, and the company formally changed its name to Chubb Life Insurance New Zealand Limited on 6 March 2023. Every Cigna-origin policy, including LifeOne life cover, Funeral Cover, Bill Cover and Income Cover, continues on its existing terms and premiums under Chubb Life, the same licensed insurer that already carried the risk. Claims for these legacy products run through Chubb Life's own team on 0800 224 623, and a licensed adviser can review whether a legacy policy still fits your circumstances.
In short
- Chubb completed its purchase of Cigna's Asia-Pacific life insurance business, including New Zealand, on 1 July 2022, for US$5.36 billion (Chubb's completion announcement).
- Cigna Life Insurance New Zealand Limited changed its name to Chubb Life Insurance New Zealand Limited on 6 March 2023; Chubb says the change did not affect any policy's terms or premiums (Chubb NZ media release).
- In January 2023 the Wellington High Court ordered Cigna to pay a $3,575,000 penalty for misleading 52,363 customers about inflation-linked increases between 2014 and 2019; over $10.7 million had already been repaid (FMA media release).
- Chubb Life Insurance New Zealand Limited, which carries every Cigna-origin policy, holds an A (Excellent) rating from A.M. Best (Chubb Life financial strength disclosure).
If your policy schedule still says "Cigna", it is not abandoned. Here is what changed, what did not, and how to claim on it today.
What happened to Cigna Life Insurance in New Zealand?
Cigna's New Zealand life business was sold, not closed. Chubb completed its acquisition of Cigna's life business across six Asia-Pacific markets, including New Zealand, on 1 July 2022, for US$5.36 billion (Chubb's completion announcement). The same legal entity carried on: Cigna Life Insurance New Zealand Limited renamed itself Chubb Life Insurance New Zealand Limited on 6 March 2023 (media release), confirming the change did not affect any policy's terms, coverage or premiums (customer letter, March 2023).
One correction worth stating: Cigna's book went to Chubb, not nib. nib's own history states its life cover came from a separate 2022 purchase of the Kiwi Insurance Limited book (About nib). Chubb Life is confirmed on the RBNZ register of licensed insurers.
Which Cigna products are still serviced today?
Chubb's claims page lists LifeOne, Funeral Cover, Bill Cover and Income Cover as live claim categories, confirming every Cigna-branded line is still open (Chubb Life claims).
| Cigna-era product | Serviced today as |
|---|---|
| LifeOne® life cover | LifeOne®, unchanged, open to increases and claims (LifeOne) |
| Cigna's funeral cover | Chubb Life Funeral Cover, up to $30,000, ages 50 to 80 (Funeral Cover) |
| Income Protection | Income Cover / Expenses Cover |
| Bill repayment insurance | Bill Cover |
| OnePath Life-origin cover | Assurance Extra |
An older schedule may carry a third name again, since Cigna had earlier taken on the OnePath Life book. Our who holds your old insurance policy guide maps that chain.
Has anything changed in my terms or premiums?
No systematic change followed the rebrand. Chubb's FAQ states "all Chubb Life policies stay the same without any changes to the current terms and conditions" (Chubb Life FAQs). Two things did change: statements now show "Chubb Life" instead of "Cigna NZ" (except on bill repayment policies), and manual bank transfer payees needed updating (Chubb Life FAQs).
What was the FMA's case against Cigna, and does it affect me?
In January 2023 the Wellington High Court ordered Cigna to pay a $3,575,000 penalty for misleading representations about inflation-linked increases applied between April 2014 and early 2019, on 52,363 policies, disclosed only inside annual letters (FMA media release). Cigna self-reported the issue in 2019, ran a remediation programme, and had repaid over $10.7 million to affected customers by the time of the penalty (FMA media release). Separately, in June 2022, OnePath Life (NZ) and Cigna jointly paid a $180,000 penalty over bill repayment insurance sales (FMA enforcement summary). If you held indexation increases through that period and were never contacted, it costs nothing to ask Chubb Life directly.
How do I claim on a legacy Cigna policy now?
Claims on every Cigna-origin line run through Chubb Life's own team:
| Need | Contact |
|---|---|
| LifeOne, Funeral, Bill or Income Cover claim | 0800 224 623 (Chubb Life claims) |
| General claims, or Assurance Extra | 0508 464 999, or [email protected] |
| Unresolved complaint | IFSO Scheme, 0800 888 202, within 3 months of a deadlock letter (Chubb's dispute resolution) |
Chubb aims to start assessing a claim within five working days (Chubb Life insurance claims). Chubb Life belongs to the IFSO Scheme, a free external dispute resolution service (IFSO Scheme).
Is Chubb Life financially strong, and how does cover compare with buying new?
Chubb Life holds an A (Excellent) rating from A.M. Best (financial strength page), also recorded on the RBNZ register. That rating covers every Cigna-origin policy, since the risk sits with the same entity. A separate AA- from S&P belongs to Chubb Insurance New Zealand Limited, the general insurer, not Chubb Life (Chubb in New Zealand); our Chubb Life NZ review sets both entities out in full.
A legacy policy is usually priced on the age you first applied, plus indexation since; a fresh application is priced on your current age. For a 45-year-old non-smoking woman applying today for $500,000 of standard Life Cover, typical monthly cost runs about $50 to $60 a month. Indicative monthly cost from insurers' published rate cards as at 8 September 2026 (see AIA and Fidelity Life for two insurers' own published rates). These figures are subject to underwriting, are not a quote, and are no guide to what an existing policy's own premium is.
Frequently Asked Questions
Is Cigna Life Insurance still available in New Zealand?
Not under that name. Cigna Life Insurance New Zealand Limited became Chubb Life Insurance New Zealand Limited on 6 March 2023. New applicants buy from Chubb Life; existing Cigna policies are serviced under their original terms by the same company.
Do I need to do anything if my policy still says Cigna?
No. Chubb Life's materials state the name change did not affect terms, coverage or premiums. It is worth checking your details are current, and that you know the claims number: 0800 224 623 for LifeOne, Funeral, Bill or Income Cover.
What was the FMA penalty against Cigna about?
A $3,575,000 penalty, ordered in January 2023, for misleading 52,363 policyholders about inflation-linked increases between 2014 and 2019. Cigna self-reported the issue and had repaid over $10.7 million by the time of the penalty (FMA media release).
Did nib buy Cigna's New Zealand life insurance business?
No, a common mix-up. Cigna's business was bought by Chubb. nib's life cover came from a separate 2022 purchase of the Kiwi Insurance Limited book.
Talk to a Licensed Adviser
A licensed adviser can pull up a Cigna-origin policy, confirm what it covers today, and check it still fits your circumstances, with no obligation to change anything. QuoteHub's licensed advisers work across a panel, so any gap can be measured against other life insurance and trauma insurance options too. Start a free comparison.
References
- Chubb, Chubb Completes Acquisition of Cigna's Life Insurance Business in Asia-Pacific, 1 July 2022
- Chubb, Cigna NZ becomes Chubb Life Insurance NZ, and customer letter, March 2023
- Chubb, FAQs, Claims, Dispute Resolution, LifeOne, Funeral Cover, retrieved 17 Sep 2026
- Chubb, Financial strength and Chubb in New Zealand
- FMA, Cigna to pay $3.5 million penalty, and enforcement case summary
- RBNZ, Register of licensed insurers; IFSO Scheme; nib, About nib, retrieved 17 Sep 2026
Disclaimer: General information only, not personalised financial advice. Financial advice is provided by Craig Smith Business Services Limited, trading as Smiths Insurance & KiwiSaver, a licensed Financial Advice Provider (FSP712931). QuoteHub is a trading name. Cover is subject to underwriting; terms and stand-downs apply. Details were current at the dates shown and change without notice; check the current policy wording or contact Chubb Life directly.
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