Chubb expects $320m nat cat hit in Q4

Property/casualty insurer Chubb has revealed its preliminary fourth quarter 2017 loss estimates from natural catastrophes of approximately $320 million before taxes (or $249 million after tax).

Insured losses for the California wildfires are currently estimated at approximately $280 million pre-tax, or $215 million after tax, it said.

The company also reported that all other natural catastrophe net insured losses to date in the fourth quarter are estimated at approximately $40 million pre-tax, or $34 million after tax.

These 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.

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