Chubb reports $380m cat hit for Q1 ‘18

Property/casualty insurer Chubb reported preliminary first quarter 2018 net loss estimates attributable to natural catastrophes of $380 million pre-tax, or $305 million after tax.

Losses from the California mudslides are estimated at $125 million pre-tax. The company also reported that net losses in the first quarter from the northeast winter storms that struck the East Coast on January 3 and March 1 are estimated at $115 million and $80 million pre-tax, respectively. All other net losses from natural catastrophes to date globally in the first quarter are estimated at $60 million pre-tax.

The estimates are net of reinsurance and include reinstatement premiums and comprises losses generated from the company's commercial and personal property and casualty insurance businesses as well as its reinsurance operations.

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