Moody’s affirms Chubb Arabia rating at 'A3' with Stable Outlook
15/11/2021
Argaam
Logo of Chubb Arabia Cooperative Insurance
CHUBB Arabia Cooperative Insurance Co. announced that rating agency Moody’s affirmed its financial strength rating (IFSR) at ' A3', with Stable Outlook, according to a bourse statement.
The rating reflects the company's strong asset quality, driven by a conservative invested asset quality, as well as strong capitalization.
In addition, it indicates the insurer's historically strong profitability, with a five-year return on capital (ROC) of 13.6% in 2020, driven by a strong underwriting five-year average combined ratio (COR) of 69.2%.
The Stable Outlook reflects Moody’s expectation that, with the support of Chubb Group, Chubb Arabia will maintain its strong profitability.
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