On 28 September 2017, DBS Group entered into a 15-year regional general insurance distribution partnership with Chubb General Insurance (Chubb).
The partnership covers 5 countries – Singapore, Hong Kong, Taiwan, China and Indonesia.
Who is Chubb?
Chubb is one of the largest* and most established insurers globally.
Chubb's award-winning claims handling service is renowned for its quality, promptness and fairness.
Operating in a global network of 54 countries, Chubb has more than 31,000 employees serving a diverse group of clients worldwide.
Chubb offers a broad range of personal and commercial insurance for individuals, families and businesses. These include: commercial insurance, personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance.
Chubb's core operating insurance companies are rated AA for financial strength by Standard & Poor's and A++ by A.M. Best, indicating its long-term ability to pay claims.
Is Chubb affiliated with Chubb Fire & Security?
No, Chubb is not affiliated with Chubb Fire & Security. Insurance is Chubb's only business and it is in no way associated with the fire and security services provider.
Where is Chubb from?
Chubb was established in 1792 through its predecessor company, the Insurance Company of North America, and has over 100 years of experience and history in Asia Pacific.
What is Chubb's geographical presence in Asia Pacific?
With both general and life insurance operations, Chubb has been present in Hong Kong for more than 90 years via acquisitions by its predecessor companies. Its general insurance operation in Hong Kong (Chubb Insurance Hong Kong Limited) is a niche and specialist general insurer. The company's product offerings include Property, Casualty, Marine, as well as Accident & Health programs for large corporates, midsized commercial and small business customers. Over the years, it has established strong client relationships by offering responsive service, developing innovative products and providing market leadership built on financial strength.
For existing DBS customers
I'm an existing MSIG policyholder. Will I be affected by this new DBS-Chubb partnership?
As long as premiums are paid, MSIG policies will continue to provide coverage as per the policy's terms and conditions.
There are no changes to claims and policy services; these remain with MSIG.
I just bought an MSIG policy before 1 Jan 2018 and have yet to receive the policy. What happens now?
You should receive the policy document in a few days. Please contact DBS if you do not receive it.
MSIG will process all applications as long as premiums are paid.
Should I cancel my MSIG policies and switch to Chubb?
Cancelling insurance policies could compromise your cover.
You can consider reviewing your total coverage and see if you should add relevant products.
Why are MSIG products still being sold even though you have announced a new partnership with Chubb?
The Chubb partnership starts in early 2018. Meanwhile, your protection needs are important and we would like to offer you current products to meet your needs.
You can rest assured that all policyholders will continue to receive the same high level of customer service that's expected of DBS.
Are Chubb products as good as MSIG's?
Chubb products will be competitive and offer good value to customers.
How are Chubb's service standards? Is their claims service good?
Chubb is distinguished by its quality product offerings and services. Our award-winning claims service is renowned for quality, promptness and fairness.