Chubb advised to raise technical reserves by SAR 960,000

21/03/2018 Argaam

 

Chubb Arabia has been advised on Mar. 15 by an actuarial expert to increase its technical reserves by SAR 960,000, the insurer said in a statement to Tadawul on Wednesday.

 

The increase is expected to negatively impact the firm’s financial results for the fiscal year 2017.

 

The additional technical reserves will not have a material impact on financials, Chubb said, adding that this statement comes in compliance with the market transparency rules.

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