Chubb Projects 4Q Net Catastrophe Loss of $585 Million Before Taxes

Chubb Ltd. estimated fourth-quarter catastrophe losses at $585 million before taxes, or $505 million after taxes.

Source: WSJ | Published on January 21, 2019

Chubb posts Q1 2024 profits

In December, Chubb projected losses tied to the California wildfires would amount to about $225 million before taxes and estimated that Hurricane Michael losses would be closer to $250 million.

On Friday, it said losses tied to the California wildfires and Hurricane Michael added up to about $475 million before taxes.

Chubb's estimates are net of reinsurance, include reinstatement premiums and comprise losses from commercial and personal property and casualty insurance businesses, as well as reinsurance operations.

Last year, Chubb reported $447 million in catastrophe losses before taxes during the fourth quarter, including $320 million tied to wildfires in Northern California.