IssuerAnnouncementDetailsV2Portlet
CHUBB Arabia Cooperative Insurance Co. Announces that Moody’s has affirmed its rating at A3 Insurance Financial Strength Rating (IFSR) with stable outlook
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Announcement Detail | Chubb Arabia is pleased to announce 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 04th Nov 2024. The A3 IFSR of Chubb Arabia reflects the good stand-alone fundamentals of its operations driven by the followings: 1. Strong asset quality driven by a conservative invested asset strategy. 2. Strong capitalization. 3. Its historical record of good profitability with a return on capital ( ROC) of around 6% at the end of 2023 driven by improved underwriting performance. The stable rating outlook reflects Moody’s expectation that, with the support of Chubb Group, Chubb Arabia will maintain its strong profitability. |
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