Moody's upgrades Chubb Arabia's IFSR to A3, outlook 'stable'

Moody’s Investor Service has updated Chubb Arabia's Insurance Financial Strength Rating (IFSR) to A3 with a "stable" outlook, the company said in a bourse filing.

The updated credit rating reflects the insurer's strong stand-alone fundamentals of its operations, namely, its strong asset quality, strong capitalization, and higher profitability aided by stringent underwriting as well as the support from its parent company, Chubb Group.

The stable outlook also mirrors Moody’s expectation that Chubb Arabia will maintain its robust profitability, backed by the support of Chubb Group.