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Chubb expects $450M in Q3 pretax catastrophe losses

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Chubb expects $450M in Q3 pretax catastrophe losses

Chubb Ltd. disclosed preliminary estimated third-quarter losses of $450 million pretax, or $372 million after tax, attributable to natural catastrophes.

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

Those 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.