QBE Insurance is a commercial insurance specialist operating in New Zealand since 1890. All policies are arranged through professional insurance brokers. We've assessed QBE's financial ratings, product range, and market position to give you the full picture.
In This Review
What is QBE Insurance and who's behind it?
QBE Insurance is a global insurer and reinsurer with New Zealand operations dating back to 1890 - making it one of the longest-running insurers in the country. QBE Insurance (Australia) Limited operates in NZ as a branch of its Australian parent, which is part of QBE Insurance Group Limited, an ASX-listed multinational headquartered in Sydney.
The company name originates from three merged entities: Q (North Queensland Insurance Company, founded 1886), B (Bankers' & Traders' Insurance Company), and E (Equitable Probate & General Insurance Company). Today QBE operates in 35 countries with over 13,000 employees and ranks among the top 25 insurers and reinsurers worldwide.
QBE's NZ office is located at Level 21, QBE Centre, 125 Queen Street, Auckland (NZBN: 9429042054160). The company holds an A+ (Strong) Insurer Financial Strength Rating from S&P Global and an A (Excellent) rating from AM Best, with the group recently upgraded to AA- (Very Strong) at group level.
In New Zealand, QBE focuses exclusively on commercial and business insurance, distributed through professional broker partners (IBANZ members). QBE does not sell personal insurance directly to consumers in NZ. Key commercial products include:
QBE does not sell policies directly to consumers. All coverage is arranged through IBANZ-registered insurance brokers who assess business risk and negotiate tailored terms on behalf of their clients.
How QBE Insurance rates across major review and rating platforms
Note on limited reviews: QBE operates as a business-to-business commercial insurer through broker partners, which means very few direct consumer reviews exist online. The Trustpilot rating is based on a very small sample (~8 reviews) and relates primarily to Australian operations. Financial strength ratings from S&P and AM Best provide a more meaningful assessment of QBE's reliability. We do our best to keep all data up to date and accurate. If you've noticed something incorrect, please let us know.
Common themes from broker and business customer feedback
QBE's financial strength gives real confidence when placing large commercial risks. Their A+ rating from S&P means policyholders can trust claims will be paid.
135 years in New Zealand is a track record few can match. QBE's underwriters understand local market conditions and NZ-specific commercial risks.
Their trade credit insurance was invaluable when a major debtor went into liquidation. QBE processed the claim professionally and within the agreed timeframe.
Good range of commercial products but the broker-only model means pricing transparency is limited. You need a good broker to get the best deal.
Our claim took over a year to resolve. Calls and emails went unreturned for weeks at a time. We eventually had to escalate the complaint to IFSO.
QBE won Intermediated Insurance Company of the Year at the NZ Insurance Industry Awards. For commercial lines, they are a market leader.
Reviews are paraphrased summaries based on available broker and business customer feedback. Theme percentages are editorial estimates based on our analysis of available feedback as of March 2026. Limited direct consumer reviews exist due to QBE's B2B broker model.
QBE offers 14 commercial insurance categories in NZ - no personal lines for consumers
Cover for business vehicles, fleets, and dealer stock. Includes $10M third-party liability as standard.
Cover for commercial buildings, plant, stock, and business interruption following insured events.
Insurance for construction projects from residential builds through to major commercial developments.
Cargo, hull, and maritime services coverage for importers, exporters, and shipbuilders.
Protection against commercial bad debts for both domestic and international trade receivables.
Performance and payment bonds for commercial contracts and construction projects.
Public and product liability cover including defective workmanship protection for NZ businesses.
Professional negligence protection for businesses providing professional services or advice.
Cover for breaches of NZ Acts of Parliament, including the Health & Safety at Work Act.
Cover for employee workplace illness and injury claims not covered by ACC.
Personal liability protection for company directors and officers against management decisions.
End-to-end cyber event coverage - before, during, and after a cyber incident.
Group and business accident and health plans for employees and workforce protection.
Specialist cover for engineering project risks including machinery breakdown and equipment failure.
The good and the not-so-good based on market research and our analysis
QBE commercial insurance pricing is broker-intermediated and not publicly available
QBE does not offer online quotes or publish pricing for any of its products. All premiums are negotiated through professional insurance brokers who assess your business risk profile and arrange coverage on your behalf. This means pricing is highly tailored but not easily comparable to other insurers.
Disclaimer: QBE does not publish pricing or offer online quotes. All premiums are determined through broker-intermediated assessment based on your specific business circumstances. The examples above are illustrative of the types of businesses QBE covers, not indicative pricing. Contact an IBANZ-registered broker for a tailored quote. We do our best to keep all data up to date and accurate. If you've noticed something incorrect, please let us know.
Higher-risk industries such as construction and manufacturing typically attract higher premiums than office-based businesses.
Larger businesses with higher turnover generally face higher premiums but may benefit from volume-based pricing through their broker.
A clean claims record over 3-5 years can significantly reduce your premium. Recent or frequent claims will increase costs.
Businesses in higher-risk areas or with multi-site operations may face different premiums compared to single-location businesses.
Higher indemnity limits and broader coverage naturally increase premiums. Your broker can help balance cover needs with budget.
Experienced brokers with strong QBE relationships may be able to negotiate more competitive terms on your behalf.
QBE vs. other commercial insurers operating in New Zealand
| Feature | QBE | Vero | NZI (IAG) | Zurich | Allianz |
|---|---|---|---|---|---|
| Financial Rating | A+ (S&P) Strong | AA- | AA- | AA- | AA |
| NZ Presence | Since 1890 | Since 1994 | Since 1859 | Since 1990s | Since 2001 |
| Distribution | Broker only | Broker & direct | Broker & direct | Broker only | Broker only |
| Commercial Motor | Yes | Yes | Yes | Yes | Yes |
| Commercial Property | Yes | Yes | Yes | Yes | Yes |
| Construction | Yes | Yes | Yes | Yes | Yes |
| Marine | Yes | Yes | Yes | Yes | Yes |
| Trade Credit | Yes | No | No | Yes | Yes |
| Cyber | Yes | Yes | Yes | Yes | Yes |
| Personal Lines | No | Yes | Yes | No | No |
Disclaimer: Financial ratings are from S&P Global where available. Product availability is based on publicly available information and may change. Always verify directly with the insurer or your broker. We do our best to keep all data up to date and accurate. If you've noticed something incorrect, please let us know.
Other commercial insurers and personal insurance options to consider
Part of Suncorp Group. Offers both commercial and personal lines in NZ. Available through brokers and direct channels. Strong presence in NZ commercial market.
Part of IAG, NZ's largest insurance group. Comprehensive commercial and personal insurance. Available through brokers and direct. One of NZ's oldest insurers (est. 1859).
Global insurer with NZ commercial operations. Specialist in large corporate and complex risks. Broker-only distribution similar to QBE.
If you need personal car, home, contents, or other consumer insurance, QBE is not an option in NZ. Consider providers that sell directly to individuals.
QBE Insurance may suit some businesses more than others
Businesses needing tailored commercial cover with the backing of a globally rated insurer. QBE's financial strength (A+ S&P) provides confidence for large or complex risks.
Companies involved in construction projects - from residential builds to major commercial developments. QBE has specialist expertise in contract works and engineering risks.
Businesses with marine, cargo, trade credit, or commercial fleet insurance needs. QBE offers specialist products in these areas that many other NZ insurers do not.
Compare.org.nz's editorial assessment of QBE Insurance
With 135+ years in New Zealand (since 1890) and financial strength ratings among the strongest in the market - A+ from S&P Global and A (Excellent) from AM Best - QBE brings genuine credibility to the commercial insurance space. As part of a top-25 global insurer operating in 35 countries, policyholders benefit from substantial backing.
However, QBE is not a consumer insurer. You cannot buy personal car, home, contents, or other consumer policies from QBE in New Zealand. The broker-only distribution model offers tailored expertise and personalised service, but it also means no online quoting, no self-service tools, and limited pricing transparency. This is standard for commercial insurers but may frustrate those used to direct-to-consumer brands.
The limited consumer review data makes a full customer experience assessment difficult. The small number of Trustpilot reviews (2.2/5 from ~8 reviews) raises some concerns about claims handling and communication, though the sample is too small to draw firm conclusions. For businesses that need specialist commercial coverage through an experienced broker, QBE is well worth considering.
Common questions about QBE Insurance
How we research and rate insurance companies
This review is based on data collected from the following sources, last verified in March 2026:
Our editorial scores (out of 10) are calculated using a weighted methodology that considers:
Disclaimer: Nothing on this page constitutes financial advice. Scores are editorial opinion based on publicly available data. QBE's limited consumer review data means our customer experience assessment carries wider uncertainty than for consumer-focused insurers. Always verify details directly with your broker or QBE and consider seeking professional advice for your specific situation. We do our best to keep all data up to date and accurate. If you've noticed something incorrect, please let us know.
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