ZURICH, Nov. 1, 2024
/PRNewswire/ -- Chubb Limited (NYSE: CB) today announces losses in
the fourth quarter of 2024 attributable to Hurricane Milton are
estimated to be $250-300 million
pre-tax and $208-250 million
after-tax, net of reinsurance and including reinstatement
premiums.
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