Highly strategic subsidiary of Chubb Group. The rating on Chubb Insurance Singapore Ltd. (Chubb Singapore) reflects the important role the insurer plays in supporting the wider group's strategy in Asia. We view Chubb Singapore as a highly strategic subsidiary of Chubb Ltd. (Chubb Group; core operating subsidiaries rated AA/Stable/--). We rate highly strategic subsidiaries one notch lower than core operating subsidiaries. Chubb Singapore benefits from long-term support provided by the group in the areas of underwriting expertise, reinsurance arrangements, distribution support, investment advisory, data analytics, and technology. The insurer maintains satisfactory underwriting performance backed by the group's prudent risk control. It benefits from the parent group's strong risk management framework, resulting in close alignment between developments in Singapore and those
