Latest news with #AMBest
Yahoo
13 hours ago
- Business
- Yahoo
AM Best Assigns Issue Credit Ratings to Chubb INA Holdings LLC's Senior Unsecured Bonds
OLDWICK, N.J., July 31, 2025--(BUSINESS WIRE)--AM Best has assigned Long-Term Issue Credit Ratings of "a+" (Excellent) to Chubb INA Holdings LLC (Chubb) (Delaware) recently announced CNY 4.5 billion (approximately USD 626 million) issuance of senior unsecured bonds in the Hong Kong market in three tranches, which are guaranteed by Chubb Limited: CNY 1 billion 2.5% senior unsecured bonds due 2030; CNY 1.5 billion 2.75% senior unsecured bonds due 2035; and CNY 2 billion 3.05% senior unsecured bonds due 2055. The outlook assigned to these Credit Ratings (rating) is stable. Chubb intends to use the net proceeds from these offerings for general corporate purposes, which may include the redemption, repurchase or repayment of outstanding indebtedness. Chubb Limited is the Swiss-incorporated holding company of the Chubb Group of Insurance Companies. At June 30, 2025, Chubb had total assets of USD 261.6 billion and shareholders' equity (excluding noncontrolling interests) of USD 69.4 billion. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Alan Murray Director +1 908 882 2195 Carlos Wong-Fupuy Senior Director +1 908 882 2438 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318
Business Wire
13 hours ago
- Business
- Business Wire
AM Best Assigns Issue Credit Ratings to Chubb INA Holdings LLC's Senior Unsecured Bonds
OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has assigned Long-Term Issue Credit Ratings of 'a+' (Excellent) to Chubb INA Holdings LLC (Chubb) (Delaware) recently announced CNY 4.5 billion (approximately USD 626 million) issuance of senior unsecured bonds in the Hong Kong market in three tranches, which are guaranteed by Chubb Limited: CNY 1 billion 2.5% senior unsecured bonds due 2030; CNY 1.5 billion 2.75% senior unsecured bonds due 2035; and CNY 2 billion 3.05% senior unsecured bonds due 2055. The outlook assigned to these Credit Ratings (rating) is stable. Chubb intends to use the net proceeds from these offerings for general corporate purposes, which may include the redemption, repurchase or repayment of outstanding indebtedness. Chubb Limited is the Swiss-incorporated holding company of the Chubb Group of Insurance Companies. At June 30, 2025, Chubb had total assets of USD 261.6 billion and shareholders' equity (excluding noncontrolling interests) of USD 69.4 billion. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit
Business Wire
13 hours ago
- Business
- Business Wire
AM Best Affirms Credit Ratings of Jordan Insurance Company Plc.
LONDON--(BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of 'bb+' (Fair) of Jordan Insurance Company Plc. (JIC) (Jordan). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect JIC's balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and marginal enterprise risk management (ERM). JIC's balance sheet strength is underpinned by its risk-adjusted capitalisation, which was at the strongest level as at year-end 2024, as measured by Best's Capital Adequacy Ratio (BCAR). The company's BCAR scores have improved in recent years as a result of measures taken by management to increase risk-adjusted capitalisation, including the suspension of dividend payments and the divesture of certain capital-intensive investments. Nonetheless, a partially offsetting rating factor is JIC's significant holdings of illiquid equity and real estate asset classes, which have been a source of volatility to the company's total equity, and have negatively impacted its regulatory solvency capital ratio. The ratings also consider JIC's moderately high reinsurance dependence for large property and commercial risks, although the associated risks are partially mitigated by a stable reinsurance panel of good credit quality. JIC has a track record of adequate operating performance, evidenced by return-on-equity ratios of approximately 4% over the last five years (2020-2024). The company reported a net profit of JOD 2.3 million in 2024 (2023: JOD 1.8 million), primarily driven by the profitability of its life portfolio, while challenging market conditions in Jordan and the United Arab Emirates translated into a non-life net/net combined ratio of 100.8% (101.7% in 2023 - as calculated by AM Best). Overall operating results have been supported by modest investment income, which translated into an average net investment return of 2.2% over the past five years. However, volatility in fair value movements of investments recognised through other comprehensive income introduced volatility into JIC's total equity over the period. JIC has an established position in Jordan's insurance market, where the company consistently ranks second based on gross written premiums; however, this market remains relatively small by international standards. JIC's insurance services revenue is well-diversified across a range of life and non-life business lines in Jordan. Due to the heavy use of reinsurance on property and other commercial lines, the company's net insurance services revenue is concentrated in motor and medical, although to a lesser extent than its domestic peers. The assessment considers the geographic diversification provided by branch offices in the UAE and, to a lesser extent, Kuwait, together with the multi-year bancassurance agreements in place for the distribution of life insurance products, giving JIC a competitive edge over most of its domestic peers. While JIC demonstrates a sound framework for identifying and managing underwriting-related risks, AM Best considers that risk management capabilities are not commensurate with the company's risk profile in areas including investments and capital management. The company is expected to take further steps to reduce its exposure to these risks over the short to medium term. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
Yahoo
14 hours ago
- Business
- Yahoo
AM Best Affirms Credit Ratings of Lloyd's, Its Rated Subsidiaries and Society of Lloyd's
LONDON, July 31, 2025--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "aa-" (Superior) of Lloyd's (United Kingdom), Lloyd's Insurance Company (China) Limited (Lloyd's China) and Lloyd's Insurance Company S.A. (Lloyd's Europe) (Belgium). Concurrently, AM Best has affirmed the Long-Term ICR of "a+" (Excellent) of Society of Lloyd's (the Society) (United Kingdom) and the Long-Term Issue Credit Rating of "a" (Excellent) on the GBP 300 million 4.875% subordinated notes, maturing 7 February 2047. The outlooks of these Credit Ratings (ratings) are stable. The ratings reflect Lloyd's balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, very favourable business profile and appropriate enterprise risk management. Lloyd's balance sheet strength is underpinned by risk-adjusted capitalisation at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR). Capital adequacy is supported by a robust risk-based approach to setting member-level capital and Lloyd's Central Fund, which is available to meet the policyholder obligations of all Lloyd's members. The protection afforded to members through the Central Fund is enhanced by the Central Fund insurance, which was renewed for five years in 2024. AM Best's assessment of the balance sheet strength of Lloyd's considers the fungibility constraints of capital held at the member level and the Lloyd's market's (the market) good financial flexibility, which is enhanced by the diversity of its capital providers. The market's exposure to catastrophe risk is an offsetting factor. However, the requirement for members to replenish their funds at Lloyd's to meet their underwriting liabilities, which is part of the 'Coming into Line' process, together with the Corporation's enhanced oversight of accumulation risk, partly mitigates the potential for volatility in risk-adjusted capitalisation due to operating losses. The operating performance assessment reflects AM Best's expectation that the market will produce a strong underwriting performance over the underwriting cycle and that the capital will continue to be attracted to Lloyd's. Improved pricing conditions, as well as the robust performance oversight by the Corporation, materialised in measurable improvements in underwriting performance over recent years. Nonetheless, the market's expense ratio continues to be higher than those of its peers. The business profile assessment reflects Lloyd's excellent position in the global general insurance and reinsurance markets as a leading writer of specialty property/casualty risks. The growing size of the market demonstrates its ability to attract and retain investors due to its unique business proposition that offers a capital efficient structure and the ability to write business globally. The ratings of Lloyd's China and Lloyd's Europe reflect reinsurance support from Lloyd's in the form of quota share contracts between Lloyd's and the syndicates that are active in its Chinese and European platforms. The ratings of the Society are notched from the ratings of Lloyd's, reflecting the unique relationship between the Society and Lloyd's, which means that the ability of the Society to meet its obligations is inextricably linked to the ability of Lloyd's to meet its obligations. The Lloyd's market ratings are the "floor of security" of all policies written at Lloyd's across all Syndicates. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Kanika Thukral Associate Director, Analytics +44 20 7397 0327 Tim Prince Director, Analytics +44 20 7397 0320 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Business Wire
14 hours ago
- Business
- Business Wire
AM Best Affirms Credit Ratings of Lloyd's, Its Rated Subsidiaries and Society of Lloyd's
LONDON--(BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of 'aa-' (Superior) of Lloyd's (United Kingdom), Lloyd's Insurance Company (China) Limited (Lloyd's China) and Lloyd's Insurance Company S.A. (Lloyd's Europe) (Belgium). Concurrently, AM Best has affirmed the Long-Term ICR of 'a+' (Excellent) of Society of Lloyd's (the Society) (United Kingdom) and the Long-Term Issue Credit Rating of 'a' (Excellent) on the GBP 300 million 4.875% subordinated notes, maturing 7 February 2047. The outlooks of these Credit Ratings (ratings) are stable. The ratings reflect Lloyd's balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, very favourable business profile and appropriate enterprise risk management. Lloyd's balance sheet strength is underpinned by risk-adjusted capitalisation at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR). Capital adequacy is supported by a robust risk-based approach to setting member-level capital and Lloyd's Central Fund, which is available to meet the policyholder obligations of all Lloyd's members. The protection afforded to members through the Central Fund is enhanced by the Central Fund insurance, which was renewed for five years in 2024. AM Best's assessment of the balance sheet strength of Lloyd's considers the fungibility constraints of capital held at the member level and the Lloyd's market's (the market) good financial flexibility, which is enhanced by the diversity of its capital providers. The market's exposure to catastrophe risk is an offsetting factor. However, the requirement for members to replenish their funds at Lloyd's to meet their underwriting liabilities, which is part of the 'Coming into Line' process, together with the Corporation's enhanced oversight of accumulation risk, partly mitigates the potential for volatility in risk-adjusted capitalisation due to operating losses. The operating performance assessment reflects AM Best's expectation that the market will produce a strong underwriting performance over the underwriting cycle and that the capital will continue to be attracted to Lloyd's. Improved pricing conditions, as well as the robust performance oversight by the Corporation, materialised in measurable improvements in underwriting performance over recent years. Nonetheless, the market's expense ratio continues to be higher than those of its peers. The business profile assessment reflects Lloyd's excellent position in the global general insurance and reinsurance markets as a leading writer of specialty property/casualty risks. The growing size of the market demonstrates its ability to attract and retain investors due to its unique business proposition that offers a capital efficient structure and the ability to write business globally. The ratings of Lloyd's China and Lloyd's Europe reflect reinsurance support from Lloyd's in the form of quota share contracts between Lloyd's and the syndicates that are active in its Chinese and European platforms. The ratings of the Society are notched from the ratings of Lloyd's, reflecting the unique relationship between the Society and Lloyd's, which means that the ability of the Society to meet its obligations is inextricably linked to the ability of Lloyd's to meet its obligations. The Lloyd's market ratings are the 'floor of security' of all policies written at Lloyd's across all Syndicates. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
