north bergen,new jersey 3/30/2010 4:34:15 AM
News / Business

The Chubb Corp. Estimates First Quarter Losses resulting from Natural Disaster.

Chubb Corp. (NYSE:CB) approximates a 1Q Loss from Recent Catastrophes.

The Chubb Corporation announced today that it estimates losses from first quarter catastrophes, which include the March Northeast U.S. storm, other U.S. winter storms, the Chilean earthquake, the Australian storms, European windstorm Xynthia and other catastrophe events, to be approximately $290 million pre-tax. The Chubb Corp. trades on the “New York Stock Exchange” under the stock symbols “CB”. For More information regarding “CB”, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.

 

 

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The Chubb Corporation (NYSE:CB) announced today that it estimates losses from first quarter catastrophes, which include the March Northeast U.S. storm, other U.S. winter storms, the Chilean earthquake, the Australian storms, European windstorm Xynthia and other catastrophe events, to be approximately $290 million pre-tax ($189 million after-tax). These amounts include estimated losses and loss expenses net of reinsurance recoverable and also include estimated reinsurance reinstatement premiums. Of the pre-tax losses, approximately $200 million represents Chubb's estimate for losses from U.S. catastrophes, of which $125 million was from the March Northeast U.S. storm. Losses from catastrophes outside the U.S. amounted to approximately $90 million pre-tax, of which $70 million was from the Chilean earthquake.

 

A conference call will take place on the same day, Thursday, April 22, 2010 at 5:00 p.m. Eastern Daylight Time hosted by Chairman, President and CEO John Finnegan and other members of senior management. The call will be broadcast live over the Internet. To listen to the conference call log on to Chubb's website at http://www.chubb.com/ and click on the microphone icon. If you are unable to listen to the live webcast, a replay of the call will be available through Friday, May 21, 2010 on Chubb's website at http://www.chubb.com/ approximately two hours following the webcast.

You may pre-register to listen to the live conference call on Chubb's website at http://www.chubb.com/ by clicking on this press release in the press release category of our home page.

 

 

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