Chubb Announces Estimated Net Losses for Hurricane Milton of $250-300 Million Pre-Tax and $208-250 Million After-Tax
Chubb (NYSE: CB) has announced estimated losses from Hurricane Milton for Q4 2024. The company expects net losses of $250-300 million pre-tax and $208-250 million after-tax, including reinsurance and reinstatement premiums. The loss estimates encompass damages across Chubb's commercial and personal property and casualty insurance businesses, as well as its reinsurance operations.
Chubb (NYSE: CB) ha annunciato stime di perdite dovute all'Uragano Milton per il quarto trimestre del 2024. L'azienda prevede perdite nette di $250-300 milioni prima delle tasse e $208-250 milioni dopo le tasse, comprese le riassicurazioni e i premi di reintegro. Le stime delle perdite comprendono danni nelle attività di assicurazione commerciale e di proprietà personale di Chubb, così come nelle sue operazioni di riassicurazione.
Chubb (NYSE: CB) ha anunciado pérdidas estimadas debido al Huracán Milton para el cuarto trimestre de 2024. La compañía espera pérdidas netas de $250-300 millones antes de impuestos y $208-250 millones después de impuestos, incluyendo la reaseguro y los premios de reinstalación. Las estimaciones de pérdidas abarcan daños en los negocios de seguros de propiedad comercial y personal, así como en sus operaciones de reaseguro.
Chubb (NYSE: CB)는 2024년 4분기 밀턴 허리케인으로 인한 예상 손실을 발표했습니다. 회사는 세전 2억 5천만~3억 달러 및 세후 2억 8만~2억 5천만 달러의 순손실을 기대하고 있으며, 여기에는 재보험 및 재가입 보험료가 포함됩니다. 손실 추정치는 Chubb의 상업 및 개인 자산 손해보험 사업과 재보험 운영에서의 손해를 포괄합니다.
Chubb (NYSE: CB) a annoncé des pertes estimées dues à l'ouragan Milton pour le quatrième trimestre 2024. La société s'attend à des pertes nettes de 250 à 300 millions de dollars avant impôt et 208 à 250 millions de dollars après impôt, y compris les primes de réassurance et de rétablissement. Les estimations de pertes englobent des dommages dans les activités d'assurance commerciale et d'assurance des biens personnels de Chubb, ainsi que dans ses opérations de réassurance.
Chubb (NYSE: CB) hat geschätzte Verluste durch den Hurrikan Milton für das vierte Quartal 2024 bekannt gegeben. Das Unternehmen erwartet netto Verluste von 250-300 Millionen US-Dollar vor Steuern und 208-250 Millionen US-Dollar nach Steuern, einschließlich Rückversicherungs- und Wiederherstellungspolicen. Die Verlustschätzungen umfassen Schäden in Chubbs gewerblichem und persönlichem Sach- und Unfallversicherungsbereich sowie in seinen Rückversicherungsoperationen.
- None.
- Hurricane Milton caused significant losses of $250-300M pre-tax in Q4 2024
- After-tax losses estimated at $208-250M, impacting Q4 2024 earnings
- Losses affect multiple business segments including commercial, personal, and reinsurance operations
Insights
The estimated
The effective tax rate applied to these losses (approximately
These estimates include losses generated from the company's commercial and personal property and casualty insurance businesses as well as its reinsurance operations.
About Chubb
Chubb is a world leader in insurance. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb employs approximately 40,000 people worldwide. Additional information can be found at: www.chubb.com.
Cautionary Statement Regarding Forward-Looking Statements:
Forward-looking statements made in this press release related to losses reflect Chubb Limited's current preliminary views with respect to future events, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, which may cause actual results and accounting determinations to differ from those set forth in these statements. The forward-looking statements could be affected by the number of insureds and ceding companies impacted by the relevant catastrophe, the amount and timing of losses actually incurred and reported by insureds, the preliminary nature of reports and estimates of loss to date, impact on the company's reinsurers, the amount and timing of reinsurance recoverable actually received, coverage and regulatory issues, and other factors identified in the company's filings with the Securities and Exchange Commission, among other things. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Chubb Limited
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