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10 October 2018Insurance

Chubb estimates Q3 cat losses at $450m pre-tax

Chubb has estimated the net losses in the third quarter of 2018 attributable to natural catastrophes globally at $450 million pre-tax, or $372 million after tax.

The losses are attributable to more than 20 separate weather events including hurricane Florence in the US, a rain and hailstorm in Colorado, typhoons Mangkhut and Jebi in Asia, and wildfires in California.

These estimates are net of reinsurance, include reinstatement premiums and comprise losses generated from the company's commercial and personal property and casualty insurance businesses as well as its reinsurance operations.

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24 October 2018   Chubb’s net profits soared in the third quarter reaching $1.2 billion in the period compared with a net loss of $70 million in the same period a year earlier, when it was hit by multiple natural catastrophes. Its combined ratio for the period was 90.9 percent compared with 110.8 percent in the same period a year earlier.
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18 October 2018   US-based property/casualty (P&C) insurer Chubb has appointed Judy Gonsalves as vice president of Chubb Group and division president of Bermuda, responsible for the commercial P&C insurance business on the island.
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25 July 2018   Chubb is expanding the property/casualty (P&C) business as it takes advantage of price increases.