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Chubb Announces Preliminary Q3 Net Catastrophe Loss Estimates Of $372 Mln

Chubb Limited (CB) on Wednesday announced preliminary net loss estimates in the third quarter of 2018 attributable to natural catastrophes globally, of $450 million pre-tax, or $372 million after tax.

The company noted that the losses are attributable to more than 20 separate weather events including Hurricane Florence in the U.S., a rain and hailstorm in Colorado, Typhoons Mangkhut and Jebi in Asia, and wildfires in California.

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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