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.

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More on this story

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