Chubb Estimates Q1 Catastrophe Losses of $250M

The Chubb Corporation announced on April 7 that it estimates the impact of losses from catastrophes for the first quarter of 2015 to be approximately $250 million before tax ($0.69 per share after tax).

The Warren, New Jersey-headquartered Chubb said catastrophe losses during the quarter were primarily related to nine severe winter weather and freeze events in the U.S.

In comparison, Chubb’s catastrophe losses during the 2014 first quarter were $199 million before tax ($0.52 per share after tax), related mostly to severe winter weather in the U.S. In the 2013 first quarter, the adverse impact of catastrophes was $18 million before tax ($0.04 per share after tax).

Chubb said it expects to announce its 2015 first quarter financial results as scheduled on April 23.