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

Photo Release: SCB Abacus and Siam Commercial Bank in collaboration with Pracharat Blue Flag 4.0 scheme, offering digital loans with instant credit approval for SMEs

The Ministry of Commerce, Thailand led by his excellency Mr. Sontirat Sontijirawong (8th left), Minister of Commerce, recently held an MOU signing ceremony for Pracharat Blue Flag 4.0 scheme. SCB Abacus, represented by Dr. Sutapa Amornvivat (8th right),...

Krungsri joins hands with SkillLane to boost employees Learning Agility with flexible online courses

Krungsri (Bank of Ayudhya PCL) reinforces its efforts in creating an organization of innovation under its "Think Digital First" strategy by collaborating with SkillLane, Thailand's number one digital training platform, to provide more learning...

KBank and LINE Join Force to Establish KASIKORN LINE Company Limited A Brand-New Company to Provide Revolutionary Social Banking Experience

- Marks the first ever attempt of the Thai commercial banking sector, at a regional scale. - 44 million LINE users in Thailand will enjoy instant banking services within the LINE platform, more approachable, fun financial experience. - Products and...

TMB embraces the season of travelling with double promotions, worth of your money!

TMB credit card gives you more with the most enjoyable trip with a worthwhile flight, getting double bonuses: 1) receive the maximum cash back of 9,000 baht when spending 1,000 baht or more per sales slip with accumulated spending from airline, hotel,...

ONOT is launched today on the world#s top 5 digital currency exchange KuCoin

Today, ONO, the world's largest blockchain social network, announces that Singapore exchange KuCoin will open three trading pairs of ONOT/BTC, ONOT/ETH and ONOT/USDT. According to the official announcement of KuCoin, the ONOT exchange service will be...

Related Topics