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Chubb Expects $290 Million Q1 Cat Losses

Posted on 30 Mar 2010

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Insurer Chubb has estimated pre-tax losses worth nearly $290 million from first quarter catastrophes. The losses after tax amount to nearly $189m, which includes losses and loss expenses net of reinsurance recoverable and reinsurance reinstatement premiums.

Loss estimations from catastrophes in the US amounted to nearly $200 million, including $125 million from the March north-east US storm. Losses from catastrophes outside the US amounted to nearly $90 million pre-tax, including $70 million from the Chilean earthquake.