Moody’s affirms CHUBB rating at A3 Insurance Financial Strength Rating (IFSR) with stable outlook

Chubb Arabia announced that Moody’s Investor Service has affirmed the A3 financial strength rating (IFSR) of Chubb Arabia Cooperative Insurance Company with a stable outlook, as per their press release on 29th September 2023.

The company stated on Thursday on Tadawul that the A3 IFSR of Chubb Arabia reflects the good stand-alone fundamentals of its operations driven by the followings:

(i) Strong asset quality driven by a conservative invested asset strategy.

(ii) Strong capitalization.

(iii) historically strong profitability with a five-year return on capital (ROC) of 7.6% at YE 2022 driven by a strong underwriting five-year average combined ratio (COR) of 78.2% at YE 2022.

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