AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of Chubb Perú S.A. Compañía de Seguros y Reaseguros (Chubb Perú) (Lima, Peru). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect Chubb Perú’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).

The stable outlooks reflect AM Best’s expectation that Chubb Peru will continue to adjust its product offerings in a profitable manner, leveraging its brand recognition and support of its parent company, Chubb Limited.

Chubb Perú initiated operations in 1998 as Altas Cumbres; in 2007, it was acquired by ACE Group and named ACE Seguros S.A., until 2016, when ACE Limited acquired The Chubb Corporation (Chubb) and rebranded the company name.

Chubb Perú has a diversified book of business, distributed through a mix of traditional and massive channels, such as large regional retailers and banks. As of December 2025, 47% of the company’s gross written premiums were composed of property/casualty products, with accident and health comprising 40% of the portfolio and life insurance the remaining 13%. As of August 2026, Chubb Perú is the 9th-largest insurance operation in Peru.

AM Best assesses Chubb Perú’s balance sheet strength as strongest, as its risk-adjusted capitalization stands at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR), and it has a defined risk appetite that limits exposures and protects its solid capital base through adequate investment, reinsurance and underwriting principles. Additionally, the company has a comprehensive reinsurance program with its affiliate, Chubb Tempest Reinsurance Ltd., and continuously has increased its total capital base reaching USD 46 million in 2025. Chubb Perú’s risk-adjusted capitalization has remained stable due to the growth of its total capital base from retained earnings, which has benefited from previous adjustments in its business offerings, despite dividend payments.

Chubb Perú’s year-end 2025 results reflect good profitability metrics, continuing with its strategy to focus on generating value to its business portfolio and limiting exposures to challenging and more competed segments. This is reflected in its historic net income of USD 10.4 million in 2025. The company continues to post profitable results as of August 2026.

Chubb Perú benefits from its integration into the Chubb organization, gaining operational advantage through the same systems, procedures and ERM practices. The organization has demonstrated its support to Chubb Perú by providing a comprehensive reinsurance program with its affiliate and actively overseeing this strategy.

Positive rating actions could occur if Chubb Peru maintains its good operating performance results, while maintaining its strategic importance to the Chubb organization. Negative rating actions could occur if significant capital outflows or a deterioration in net results erodes Chubb Perú's balance sheet strength to a point where it is no longer supportive of its current ratings. Negative rating actions also could occur if AM Best determines that the strategic importance of Chubb Perú to the Chubb organization has diminished.

This press release relates to Credit Ratings that have been published on AM 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 AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

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