AM Best Assigns Issue Credit Rating to Chubb INA Holdings, Inc.’s Senior Unsecured Notes

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Long-Term Issue Credit Rating of “a+” (Excellent) to Chubb INA Holdings Inc. (Chubb) (Delaware) recently announced $1.0 billion issuance of 5.00% senior unsecured notes due 2034. The notes are guaranteed by Chubb Limited. The outlook assigned to the Credit Rating (rating) is stable.

Chubb INA intends to use the net proceeds from this offering for general corporate purposes, including the repayment at maturity of the $700 million of its outstanding 3.35% senior unsecured notes, due May 15, 2024. Chubb Limited is the Swiss-incorporated holding company of the Chubb Group of Insurance Companies. Chubb Limited, which is headquartered in Zurich, Switzerland, and its direct and indirect subsidiaries are a global insurance and reinsurance organization, serving the needs of a diverse group of clients worldwide. At December 31, 2023, Chubb had total assets of $231 billion and shareholders’ equity (excluding noncontrolling interests) of $60 billion. With operations in 54 countries and territories, Chubb provides commercial and consumer property/casualty insurance, accident and health, reinsurance and life insurance to a diverse group of clients.

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