Moody’s affirms Chubb Arabia rating at 'A3' with Stable Outlook

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.