Chubb held its fourth-quarter earnings call on Wednesday and addressed the future financial impacts resulting from the recent California wildfires.

Benzinga

New York

United States

Chubb CEO Expects $1.5 Billion Loss From LA Wildfires: 'California Is A Difficult Market For Insurance Companies' - Chubb (NYSE:CB)

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Chubb expects that its losses from the L.A. County fires will total $1.5 billion, making the Swiss company the first major insurer to release such a figure.

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Los Angeles Times

Patrick Soon-Shiong

Los Angeles

Los Angeles County

California

Chubb reports L.A. County fire losses will hit $1.5 billion

Insurer Chubb Ltd. has estimated its costs related to the Los Angeles fires to be around $1.5 billion before taxes.

MarketWatch

Murdoch family

Insurer Chubb puts a price tag on its share of L.A. wildfire woes

Chubb Ltd. is estimating that it will need to pay out $1.5 billion to cover its Los Angeles County fire claims, making the Swiss insurer the first company to report its expected losses from the conflagrations. Chairman and Chief Executive Evan Greenberg said the figure includes the cost of “supporting our customers and helping them recover and rebuild from this catastrophe,” according to a statement in the company’s fourth-quarter earnings repor…

DNyuz

Bermuda insurers and reinsurers will be impacted by California wildfires in a meaningful way, a ratings agency has determined.
Fitch Ratings said the companies they follow on the island can expect det...

The Royal Gazette

Bermuda companies take a hit from LA wildfires

Fitch Ratings has noted that the Bermuda market will have a meaningful share of insured losses from the recent California wildfires for both primary business and reinsurance, however, it does not expect ratings to be affected given plentiful capital levels. According to a new report from Fitch, underwriting results for Bermuda-based re/insurers it follows are expected to deteriorate in 2025 due to pressure on premium rates and rising loss costs.…

ReinsuranceNe.ws

Bermuda market to have a meaningful share of LA wildfire insured losses: Fitch

Initial loss estimate announcements for the Los Angeles, California wildfires from Bermudian reinsurance firm RenaissanceRe and global re/insurer Chubb

Artemis.bm - The Catastrophe Bond, Insurance Linked Securities & Investment, Reinsurance Capital, Al

RenRe works off $50bn LA wildfire industry loss, Chubb also appears to pick a high figure - Artemis.bm

Insurer Chubb Ltd. has estimated its costs related to the Los Angeles fires to be around $1.5 billion before taxes. Article Attribution | Read More at Article Source The post Insurer Chubb puts a price tag on its share of L.A. wildfire woes appeared first on RocketNews.

RocketNews

Insurer Chubb faces a massive financial blow from Los Angeles wildfires, estimating a $1.5 billion net pre-tax hit this quarter. The flames continue to devastate affluent neighborhoods, leaving families and insurance companies reeling. Key Facts: 
Chubb estimates a $1.5 billion net pre-tax cost in its first quarter of 2025. CEO Evan Greenberg confirmed the figure, calling the situation “a catastrophe.” At least 28 lives have been lost, with more…

Chubb CEO Expects $1.5 Billion Loss From LA Wildfires: 'California Is A Difficult Market For Insurance Companies' - Chubb (NYSE:CB)

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