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Moody’s affirms CHUBB’s rating at ‘A3’; outlook ‘Stable’

Moody’s affirms CHUBB’s rating at ‘A3’; outlook ‘Stable’
The rating reflects the company’s strong capitalisation
CHUBB
8240
1.93% 19.00 0.36

Riyadh – Mubasher: Moody’s Investor Service has confirmed CHUBB Arabia’s Insurance Financial Strength Rating (IFSR) at “A3” with a stable outlook.

The rating reflects the good stand-alone fundamentals of CHUBB Arabia’s operations reflecting the company’s strong asset quality driven by a conservative invested asset quality, the insurer said in a statement to the Saudi Stock Exchange (Tadawul).

It also shows the company’s strong capitalisation, and strong profitability aided by stringent underwriting as well as one notch support stemming from its affiliation to Chubb Group, a global provider of insurance products covering property and casualty, accident and health, reinsurance, and life insurance.

“The stable rating outlook reflects Moody’s expectation that, with the support of Chubb Group, Chubb Arabia will maintain its strong profitability,” the company said.