CHUBB Arabia says Moody’s reaffirms A3 rating, ‘Stable’ outlook

Logo of CHUBB Arabia Cooperative Insurance Co.

CHUBB Arabia Cooperative Insurance Co. said that Moody’s Investor Service, in a report issued on Sept. 29, reaffirmed its A3 Insurance Financial Strength Rating (IFSR) with a “Stable” outlook.

In a statement in Tadawul, the insurer said that the rating confirmed its strong asset quality driven by a conservative invested asset strategy. 

The rating indicates CHUBB Arabia’s strong capitalization and strong profitability, with a five-year return on capital (ROC) of 7.6% by the end of 2022, driven by a strong underwriting five-year average combined ratio (COR) of 78.2% last year. 

The “Stable” outlook reflects Moody’s expectations that the insurer will maintain its strong profitability, with the backing of CHUBB Group.