Pacific Blu L.P. (Pacific Blu) is the named insurer on the My Home policy documentation. The Financial Conduct Authority (FCA) has received confirmation from the relevant New Zealand regulatory bodies that Pacific Blu is not licensed as an insurer or as a financial services provider in New Zealand.¹ The My Home policy documentation also claims that Pacific Blu is a participant in the dispute resolution scheme provided by New Zealand Financial Services Complaints Limited (FSCL). FSCL has confirmed to the FCA that Pacific Blu is not currently a scheme participant.

Pacific Blu’s documentation does not include any information about whether it is authorised, registered, licensed or regulated as an insurer in any other country.

What is the risk to consumers?

We are aware that the My Home policy has already been sold to consumers in the UK through one authorised general insurance intermediary. It is possible that this policy or others offered by Pacific Blu are also being sold through other general insurance firms in the UK.

We are concerned that consumers who have taken out policies with Pacific Blu may be unaware that they have entered into an unregulated insurance contract under which there appears to be no regulatory protection.

Action to be taken by firms carrying out insurance mediation activities

Firms authorised in the UK selling the My Home policy or any other insurance policy offered by Pacific Blu need to take the following steps:

• Immediately withdraw Pacific Blu’s policies from sale.


• Make arrangements to place policyholders back into the position they would have been in had they not entered into any contract with Pacific Blu.


• Contact the FCA’s Customer Contact Centre on 0845 606 9966 with details of the number of Pacific Blu policies they have sold and details of their proposals to redress the potential risk to their customers.