Moody's affirms Chubb

Moody's Investors Service said it affirmed the Chubb Corp.'s A2 senior unsecured debt and its U.S. operating companies' Aa2 insurance financial strength ratings.

The outlook is stable.

The ratings reflect their distinction as a leading underwriter, particularly for high-end homeowners' insurance and professional liability insurance, Moody's said, as well as the group's disciplined underwriting and reserving practices, its solid and historically conservative financial management profile and excellent financial flexibility.

The agency said it believes that Chubb's operating subsidiaries remain strongly capitalized on a risk-adjusted basis, given its strong underwriting profitability and internal capital generation, and notwithstanding substantial share repurchases in recent years.

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