Chubb Ltd. And Subs Ratings Affirmed, Chubb Reinsurance (Switzerland) Ltd. Upgraded To #AA#; Outlook Stable

Stocks and Financial Services Press Releases Wednesday January 24, 2018 09:00
NEW YORK--24 Jan--S&P Global Ratings

NEW YORK (S&P Global Ratings) Jan. 23, 2018, S&P Global Ratings Services said it affirmed its 'A' long-term counterparty credit rating on Chubb Ltd. and its 'AA' financial strength ratings on Chubb's core operating subsidiaries. At the same time, we are raising our rating on Chubb Reinsurance (Switzerland) Ltd. (CRSL) to 'AA' from 'AA-'. The outlook is stable.

We are also withdrawing our 'AA' financial strength rating on Federal Insurance Co. Korea, because the company ceased operations effective Aug. 29, 2017. The stable outlook reflects our view that, over the next two years, Chubb will continue to produce peer-leading earnings, maintain its extremely strong capitalization, and will not experience outsized losses that could raise questions regarding enterprise risk management. We don't expect Chubb to boost its financial risk appetite, particularly with respect to managing potential catastrophe losses within earnings.

Our counterparty and financial strength rating on CSRL are the same as our ratings on Chubb's core operating subsidiaries. If we upgrade Chubb, we may take similar action regarding CRSL, provided our view of CRSL's status within the group remains unchanged. We may lower our ratings in the next 24 months if Chubb is unable to maintain its historic levels of superior underwriting profitability, capitalization erodes, Other risk-management practices do not successfully transfer to the larger merged organization, the group experiences significant turnover in its senior management and key personnel over the coming year, or other unforeseen challenges emerge as part of the acquisition of former Chubb and the senior management transition. We are unlikely to raise our ratings in the next 24 months because our view of Chubb's intermediate insurance industry and country risk limits our business profile assessment to very strong.

Latest Press Release

Permission to Issue Baht-denominated Bonds or Debentures by Foreign Entity in Thailand during 1stMay 2019 31stJanuary 2020

Pursuant to the Ministry of Finance's Ministerial Notification re: Permission to Issue Baht-Denominated Bonds or Debentures in Thailand on the 11th April 2006 and four amendments, which stipulates criteria for permission to issueBaht-denominated bonds or...

Ontario Teachers# to invest in global disruptive technology through new innovation platform

Ontario Teachers' Pension Plan (Ontario Teachers') is pleased to announce it is launching a new investment department, Teachers' Innovation Platform (TIP). TIP will focus on late-stage venture capital and growth equity investments in companies that use...

Photo Release: 2019 GL Annual General Shareholders Meeting

Group Lease Public Company Limited (GL) led by Mr. Skol Harnsuthivarin (5th from left), Chairman of the Board of Director, Mr. Tatsuya Konoshita (6th from left), Chief Executive Officer together with the Board of Directors held the 2019 Annual General...

Photo Release: EXIM Thailand Holds FX Risk Management Phase 2 e-Learning To Promote FX Risk Hedging Tools for SME Exporters

Mr. Chana Boonyachai (left), Executive Vice President of Export-Import Bank of Thailand (EXIM Thailand), recently took a group photo with Ms. Vachira Arromdee (center), Assistant Governor, Financial Markets Operations Group of the Bank of Thailand (BOT),...

Guangdian Capital (GDC) Backed Mountain Top Receives Investment from China#s Tech Giant ByteDance

In March 2019, China's tech giant ByteDance has invested in Mountain Top, a leading talent agency in China. The previous funding round of Mountain Top was led by Guangdian Capital ("GDC"), which has invested RMB 100 million in the company back in 2016....

Related Topics