Who Are we?

Co-op Insurance NZ is the trading name for Credit Union Insurance Limited, a 100% New Zealand owned and operated insurance company.

We are owned by Co-op Money NZ, which is the trading name for the New Zealand Association of Credit Unions, a co-operative representing Member credit unions and building societies in New Zealand.

That means our owner is a co-operative that returns its profit to its Member credit unions, who in turn give back their profits to their members by way of fair fees and interest rates and improved products and services, as well as through community sponsorship.

That’s why everything we do has the co-operative philosophy in mind: we really want to do the best for our customers and our focus is not on making big profits for offshore shareholders.

Being locally owned, we keep profits in New Zealand to help local communities to grow and prosper.

We have a fantastic team of dedicated and experienced staff who are there to help, and our range of simple, affordable insurance products are designed to make it easy for you to protect your family and your possessions – so you can sleep easier at night!

We provide all New Zealanders with a range of simple car insurance products designed for the needs of Kiwis everywhere. We also provide credit union members with great value loan repayment insurance and funeral plan insurance products, and provide house and contents insurance through our partner Vero .

We are dedicated to providing a personal, friendly service to help protect you, your family and your valuable possessions.

Because of our co-operative origins, Co-op Insurance NZ values and supports the Co-operative Principles laid out by the International Co-operative Alliance. Visit the website to learn more about the Co-operative Principals.

We are also a proud member of the Insurance Council of New Zealand.   For an impartial look at everything you need to know about general insurance, the Insurance Council of New Zealand has set up a website to help you protect what’s important to you.  Visit ‘Are You Covered’ now.

Fair Insurance Code

As a member of the Insurance Council of New Zealand, we are committed to complying with the Fair Insurance Code. You can access a copy of the Fair Insurance Code at www.icnz.org.nz.

Our Rating Disclosure:

Credit Union Insurance Limited (trading as Co-op Insurance NZ) has a BBB- insurer financial strength rating, given by Fitch Ratings.

Fitch Ratings Insurer Financial Strength Ratings:

  • AAA: Exceptionally strong
  • AA: Very strong
  • A: Strong
  • BBB: Good
  • BB: Moderately weak
  • B: Weak
  • CCC: Very weak
  • CC: Extremely weak
  • C: Distressed.

Notes: “+” or “-” may be appended to a rating to indicate the relative position of a credit within the rating category.  Such suffixes are not added to ratings in the ‘AAA’ category or to ratings below the ‘B’ category.

Solvency Margin:

In its Half-yearly Solvency Return as on 31st December 2017 filed with the Reserve Bank of New Zealand, Co-op Insurance NZ had a solvency margin of:

Aggregate Non-Life Life
Actual Solvency Capital $7,105,484 $6,745,881 $359,603
Minimum Solvency Capital $5,000,000 $4,317,441 $85,952
Solvency Margin $2,105,484 $2,428,440 $273,651
Solvency Ratio 142.1% 156.2% 418.4%


Co-op Insurance NZ is the trading name for Credit Union Insurance Ltd, an insurer licensed by the Reserve Bank of New Zealand under the Insurance (Prudential Supervision) Act 2010.