Chubb feels heat: California wildfires burn fat off Q1 P&C margins

California wildfire burnt the fat off the usually rich Chubb margins, pushing the group’s Q1 P&C combined ratio to 95.7%, the highest reading since 2020 when Chubb acknowledged its Covid pandemic losses.

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Chubb feels heat: California wildfires burn fat off Q1 P&C margins

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