Harvey-Irma insured losses could reach $1.6 billion, says Chubb

Insured losses for Hurricane Harvey are estimated at approximately $650 million pre-tax, and Irma estimated from $800 million to $950 million, according to preliminary loss estimates from Chubb.

Hurricane Harvey and Irma impacted Texas, Flordia and other southeastern states, along with the Carribean in early September.

Chubb's 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.

"The catastrophes we have experienced in the last five weeks, including Hurricanes Harvey, Irma and Maria, and the earthquakes in Mexico, have been significant events, causing both a tragic loss of life and considerable property and infrastructure damage," said Evan Greenberg, chairman and CEO of Chubb. "Our thoughts are with everyone affected by these disasters, including our customers, business partners and employees. Our first job at Chubb is to support them in their time of need and we are bringing to bear all of the resources of our organization to do that."

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