Brexit

Brexit FAQs - how it could affect you

What does Chubb’s (CEG and AEG) recent conversion to public limited companies (Plc) mean for me?

Will it affect my policy I have with you?

Our conversion to a Plc will have no effect on the terms and conditions of your cover or the duration of your policy or policies

Will my premium(s) change?

Our conversion to a Plc will have no effect on the amount of your premium(s).

Will there be any costs to me associated with this change?

You will not incur any costs as a result of our conversion to a Plc.

Will this change my terms and conditions?

No. Our conversion to a Plc will have no effect on your terms and conditions.

Will it change how I contact you?

There is no change to your current contact name or contact numbers. Please continue to contact us in the usual way. There may be changes to some numbers in due course, but we will advise you if this is the case in good time.

If I have made a claim, does the conversion to a Plc affect my claim?

Our conversion to a Plc will have no effect on any claims which have been made or may be made under your policy.

Will this affect any claim I may have in the future?

Our conversion to a Plc will have no effect on any claims which have been made or may be made under your policy.

How will I be affected by Chubb's Brexit planning?

Why have I received an Important Notice with my policy documents?

You may have received an Important Notice from Chubb, one of our partners, or your broker. The Important Notice was to advise you that we are planning for Brexit and consequently there are likely to be some changes to the corporate structures of our companies. The first of those changes has already happened, both CEG and AEL have converted to public limited companies. This website is the best place to find up to date information about our Brexit planning.

I didn’t know I had any cover with you?

You may have insurance cover provided by Chubb though a broker or an organisation that have chosen to place their business with us. If you are unsure about your cover please contact your broker. We are required to make you aware of any changes taking place.

I forgot I had cover, what do I need to do?

You don’t need to do anything. Our Brexit changes will have no effect on the terms and conditions of your cover or the duration of your policy or policies.

What am I covered for?

To find out the details of your policy you will need to speak to the appropriate team – please refer to your policy and then call the telephone number included, or use the contact us telephone numbers included on Chubb.com.

Will it affect my policy I have with you?

Our Brexit changes will have no effect on the terms and conditions of your cover or the duration of your policy or policies.

Will my premium(s) change?

Our Brexit changes will have no effect on the amount of your premium(s).

Will there be any costs to me associated with this change?

You will not incur any costs as a result of the Brexit changes.

Will this change my terms and conditions?

No. Our Brexit changes will have no effect on your terms and conditions.

Will it change how I contact you?

There is no change to your current contact name or contact numbers. Please continue to contact us in the usual way. There may be changes to some numbers in due course, but we will advise you if this is the case in good time.

On-going claim i.e. does this affect my claim?

Our Brexit changes will have no effect on any claims which have been made or may be made under your policy.

Will this affect any claim I may have in the future?

Our Brexit changes will have no effect on any claims which have been made or may be made under your policy.

How is Chubb changing under Brexit?

What is changing under Brexit?

Our Brexit planning is likely to be marked by a series of changes to the Chubb business in the UK and Europe during 2018. The first of these changes will be changes to the names of two of our entities. Both Chubb European Group and Ace Europe Life have changed to public limited companies and will later change to a Societas Europaea. Chubb currently contemplates locating its EU headquarters in Paris and its UK and regional European headquarters will remain in London.

We will continue to carry out business in all the countries we operate in now and we will have an authorised entity in the UK. We anticipate that these changes will allow us to continue to benefit from the S&P “AA” rating assigned to core operating companies within the Chubb Group.

Why are you doing this?

The UK Government served a notice under Article 50 in March 2017 which kick-started a minimum two-year period for negotiations and Brexit is due to take place on 29 March 2019. Recently the UK and the EU have agreed transitional arrangements that will allow UK insurers to operate in EU countries, and for EU insurers to continue to operate in the UK until the end of 2020. Without such transitional arrangements, like many insurers and financial services firms, CEG and AEG would no longer be able to undertake regulated activities in the EEA without obtaining EEA permissions.

Chubb European Group (CEG) and ACE Europe Life (AEL) are currently authorised in the UK. Chubb’s Brexit plans are designed to ensure it can continue to provide its products and services to its UK and EU customers.

Chubb’s Brexit plan will ensure that Chubb can continue to carry out business in all the countries we operate in now.

Will the change from Ltd to a Plc, or from Plc to an SE be via a Part VII court order?

Sometimes insurers use a court sanctioned process referred to as a “Part VII” to move customers’ insurance policies from one insurer to another insurer. Under Chubb’s Brexit plan this process will not be necessary.