SEPTEMBER 15, 2020 08:42 AM (EDT)

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


CONTACTS:
 Greg Dickerson
Senior Financial Analyst
+1 908 439 2200, ext. 5161
gregory.dickerson@ambest.com

Michael J. Lagomarsino CFA, FRM
Senior Director
+1 908 439 2200, ext. 5810
michael.lagomarsino@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

FOR IMMEDIATE RELEASE

OLDWICK - SEPTEMBER 15, 2020 08:42 AM (EDT)
AM Best has assigned a Long-Term Issue Credit Rating of “a+” to Chubb INA Holdings Inc.’s (Chubb) (Delaware) recently announced $1 billion 1.375% 10-year senior unsecured notes offering. These notes will be guaranteed by Chubb Limited [NYSE: CB]. The outlook assigned to the Credit Rating (rating) is stable.

Immediately following the senior unsecured notes issuance, Chubb’s financial leverage and coverage measures will deteriorate slightly but remain strongly supportive of the assigned ratings. Chubb intends to use the net proceeds of the offering to repay at maturity the $1 billion principal amount of its 2.875% senior unsecured notes due Nov. 3, 2022.

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 media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

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 New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.


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AMB# Company Name
050095 Chubb INA Holdings Inc.
058303 Chubb Limited