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OLDWICK, N.J., October 08, 2021--AM Best has commented that the Credit Ratings (ratings) of Chubb Limited (Chubb) [NYSE: CB] and its insurance subsidiaries remain unchanged following the company’s announcement of a definitive agreement to acquire the life and non-life insurance companies that house the personal accident, supplemental health and life insurance business of Cigna Corporation (NYSE: CI) in seven Asia-Pacific markets for $5.75 billion dollars in cash. (For a listing of Chubb’s rating
Cigna (CI) sells its businesses to Chubb to focus on core growth areas.
Chubb (CB) will acquire Cigna's accident and health and life insurance operations in Korea, Taiwan, Hong Kong, New Zealand, Thailand and Indonesia as well as 51% stake in the Turkey joint venture.