30 November 2017Insurance

Chubb expects $320m nat cat hit in Q4

Property/casualty insurer Chubb has revealed its preliminary fourth quarter 2017 loss estimates from natural catastrophes of approximately $320 million before taxes (or $249 million after tax).

Insured losses for the California wildfires are currently estimated at approximately $280 million pre-tax, or $215 million after tax, it said.

The company also reported that all other natural catastrophe net insured losses to date in the fourth quarter are estimated at approximately $40 million pre-tax, or $34 million after tax.

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.

Take part in our reader survey to be in with a chance to win a £3,000 corporate subscription to Intelligent Insurer

More of today's news

UK government approves ILS regulations

Genworth and Oceanwide push back merger agreement

Allianz appoints head of operations

Charles Taylor InsureTech strengthens leadership team

Recent catastrophes highlight protection gap, says forum held at Lloyd’s

Don't miss our insurtech email newsletter - sign up today

Already registered?

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk

More on this story

Insurance

Chubb hires general counsel from RAA for new legal role

11 December 2017 Property/casualty insurer Chubb has appointed Tracey Laws as senior vice president, general counsel, global government and industry affairs.

Insurance

California Wildfire losses could exceed $10bn

17 November 2017 Losses from the California Wildfires will reach between $8 billion and $10.5 billion, according to risk modelling firm AIR Worldwide, which has now conducted a damage survey and acquired new information about policy terms, and a re-examined the replacement values of high-value homes within its industry exposure database (IED).

Insurance

$1.9bn nat cat hit drives Chubb into Q3 loss

27 October 2017 Property/casualty insurer Chubb said on Oct. 26 that it reported a net loss for the third quarter of $70 million after recording pre-tax catastrophe losses, net of reinsurance and including reinstatement premiums, of $1.89 billion in the quarter.

Delegated authorities ride E&S growth, despite ‘double-edged’ risks

Rokstone launches $10m facility to cover global perils with NormanMax

CFC continues transaction liability expansion with new European office

WTW teams up with Kayna and Vibrant to enhance cybersecurity insurance

Britannia P&I to seek minimum 7.5% rate gain from members in 2025/6

Root Platform launches programme to upskill insurance industry coders

Property looks perma-hard, but never care-free, says Zurich’s Greco

Allstate faces $4.8bn YTD cat losses

Chubb expects $320m nat cat hit in Q4

More on this story

Editor's picks

Editor's picks

More articles