Chubb Estimates Losses of About $225M Pre-Tax from CA Wildfires

Chubb Limited today announced preliminary net loss estimates in the fourth quarter of 2018 attributable to the California wildfires of approximately $225 million pre-tax, or $195 million after tax. These estimates do not include losses from Hurricane Michael or other weather events occurring globally in the quarter. The company believes its estimated losses from Hurricane Michael are currently at the upper end of the range of $150 million to $250 million pre-tax that was previously disclosed.

Source: Chubb | Published on December 4, 2018

Ca property insurance reforms

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.

About Chubb

Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: www.chubb.com.