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The California wildfires caused Swiss insurer Chubb Ltd.'s profit to fall more than 5% year over year to $1.5 billion in the fourth quarter of 2017, The Royal Gazette reported. The insurer recorded pre-tax catastrophe losses of $477 million from the two wildfires in California. Net premiums for the property/casualty unit totaled $6.5 billion.
1. Turkish airlines cancel flights to Iran and Iraq amid war concerns
3. Zurich Insurance to stop underwriting new oil and gas projects
4. Bermudan, European reinsurers to suffer major hit from bridge collapse
5. Tycoon gets death sentence for multi-billion-dollar fraud
6. Inflation drives 10% increase in sum insured for windstorms