Staff Reporter

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11 months ago

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Chubb’s Hong Kong life business crucial for international expansion: analyst

It accounted for 15% of pre-tax income for the group.

Chubb Life, Chubb’s Hong Kong life insurance business is crucial for the group’s international expansion, according to credit ratings expert S&P Global.

This is because Chubb Life is a stable profit contributor to the group’s life insurance operations and has a close relationship with the group to receive capital, actuarial, investment, and risk management support.

In 2020 and 2021, Chubb Life accounted for about 15% of pretax operating income for the group's life insurance business.

“The group's acquisition of some of Cigna Corp.'s business lines reinforces our view of Chubb Group's long-term commitment to its life insurance business, especially in Asia-Pacific markets,” S&P Global said.

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