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Chubb Estimates Second Quarter Catastrophe Losses

Posted on 10 Jul 2013 by Neilson

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Chubb lossesThe Chubb Corporation announced today that it estimates the impact in the second quarter of 2013 of losses from catastrophes to be approximately $240 million before tax, or $156 million after tax ($0.60 per share after tax).

Approximately $175 million of the losses before tax represents Chubb's estimate for losses from catastrophes in the United States, primarily from various severe storms in the central states. 

Losses from catastrophes outside the United States amounted to approximately $65 million before tax, most of which were from storms and flooding in southern Alberta, Canada.

Chubb expects to announce its second quarter 2013 financial results as scheduled on Thursday, July 25, 2013 after the close of the market.