Help

BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Login Register Subscribe

Chubb estimates fourth-quarter cat losses of $320 million

Reprints
Chubb estimates fourth-quarter cat losses of $320 million

Chubb Ltd. expects to report $320 million in pretax catastrophe losses for the fourth quarter, the insurer announced late Wednesday.

Most of the losses stems from wildfires in California, which Chubb estimates will result in $280 million in pretax losses, a Chubb statement said.

The estimates are net of reinsurance and include losses from its commercial insurance, personal lines and reinsurance operations.

The fourth-quarter catastrophe losses cap a year of significant losses for Chubb and most other commercial property insurers operating in the United States. In the third-quarter, which included losses from devastating hurricanes in the United States and Caribbean, Chubb reported pretax catastrophe losses of $1.89 billion and an overall net loss of $70 million for the quarter.

 

 

 

Read Next

  • Chubb reports $70 million loss on catastrophe crush

    Chubb Ltd. on Thursday reported a 2017 third-quarter loss of $70 million, compared with net income of $1.36 billion for third quarter 2016, as it became the latest insurer to be pushed to a quarterly loss by the unprecedented string of catastrophes in September and October.