Chubb estimates net insurance, reinsurance losses from hurricanes, earthquakes
Chubb announced estimated maximum net insurance and net reinsurance losses for the third quarter of 2017 attributable to Hurricane Maria, which primarily impacted the Caribbean region including Puerto Rico, of $220 million pre-tax, or approximately $200 million after tax. The estimated maximum net loss for Hurricane Maria for the company's commercial and personal property and casualty insurance businesses is $152 million pre-tax, or $135 million after tax, and for the company's reinsurance businesses is $53 million pre-tax and after tax. These figures are net of reinsurance. Estimated reinstatement premiums are an additional $15 million pre-tax. The company also reported its net loss estimates attributable to the two Mexican earthquakes, which struck the state of Chiapas on September 7 and the state of Puebla and the greater Mexico City area on September 19. Insured losses for the earthquakes are currently estimated at $25 million pre-tax, or $24 million after tax. These estimates are net of reinsurance and include reinstatement premiums. Lastly, the company reported that all other natural catastrophe net insured losses in the third quarter, other than those previously announced for Hurricanes Harvey and Irma, are estimated at approximately $107 million pre-tax, or $86 million after tax.