AM Best downgrades credit ratings of Chubb P&C subsidiaries

AM Best has downgraded the issuer credit rating of the The Chubb
Corporation's P&C subsidiaries from aaa to aa+ following
the completion of the company's merger with Ace, it announced
yesterday (22 June).
The action follows a significant increase in the carrier's
levels of debt, level of tangible capital and resulting goodwill,
which "somewhat diminished" its risk-adjusted
capitalisation, AM Best commented.
However, it also removed Chubb from being under review with
negative implications and