Chubb Insurance South Africa Limited

Image placeholder
Chubb Insurance South Africa Limited (2021-09)
  • Chubb Insurance South Africa Limited
  • Year : Sep 2021
3 Tokens
USD 300.00
Summary

Risk adjusted capitalisation was maintained within a strong range over the review period, supported by a large capital base catering for well contained exposures to insurance and market risks. Following earnings moderation emanating from the COVID-19 exposure, the regulatory Solvency Capital Requirement (“SCR”) coverage reduced to 1.8x at FY20 (FY19: 2.2x), although this is expected to recover to historical levels in FY21, supported by internal capital generation and contained dividend distributions.

Additional Information

The Stable Outlook reflects the expected recovery in earnings to historical levels, while risk adjusted capitalisation and liquidity metrics may be maintained within a strong range. The rating may be upgraded on an improvement in market position while maintaining strong risk adjusted capitalisation and liquidity.

Related Publication

Regent Insurance Company (2013-12)

A Credit Rating report is a research report providing detailed analysis utilised by GCR in the accordance of a Credit Rating.

South African Short Term Insurance Bulletin

The South African Short Term Insurance Bulletin is prepared annually to provide clients with an analysis of industry participants. In this regard,...

Credit Spotlight: Civil Unrest and Ratings in South Africa

GCR Ratings has taken note of the recent geopolitical events from 7 July 2021 which sparked violent looting and riots in Kwa-Zulu Natal and Gauteng...

Available Purchase Options: