Press Release - MARCH 05, 2018

A.M. Best Assigns Issue Credit Ratings to Chubb INA Holdings Inc.’s Senior Unsecured Notes


CONTACTS:
 Darian Ryan, CPA
Senior Financial Analyst
+1 908 439 2200, ext. 5449
darian.ryan@ambest.com

Jennifer Marshall, CPCU, ARM
Director
+1 908 439 2200, ext. 5327
jennifer.marshall@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 - MARCH 05, 2018
A.M. Best has assigned Long-Term Issue Credit Ratings (Long-Term IR) of “a+” to Chubb INA Holdings Inc.’s (Chubb) recently announced EUR 900 million 1.55% Senior Unsecured Notes due 2028 and EUR 900 million 2.50% Senior Unsecured Notes due 2038. The notes are guaranteed by Chubb Limited (Zurich, Switzerland) [NYSE: CB]. The outlook assigned to the Credit Ratings (ratings) is stable.

Following the senior unsecured notes issue, financial leverage and coverage measures will be supportive of the assigned ratings. Chubb intends to use the net proceeds of the offering to repay outstanding debt. This includes notes due in 2018 and 2019 and the redemption of the $1.0 billion aggregate principal amount of Directly Issued Subordinated Capital Securities with scheduled maturity in 2037. With these payments, including the payment of the March 2018 note, the next debt maturity is November 2020.

Chubb’s Long-Term Issuer Credit Rating of “a+,” its existing Long-Term IRs and the ratings of its operating insurance subsidiaries are unchanged.

This press release relates to Credit Ratings that have been published on A.M. 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 A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.

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