Chubb Announces Estimated Net Losses For Hurricane Milton Of $250M-300M Pre-Tax And $208M-250M After-Tax
Portfolio Pulse from Benzinga Newsdesk
Chubb Limited (NYSE:CB) has announced estimated net losses due to Hurricane Milton, ranging from $250-300 million pre-tax and $208-250 million after-tax. These losses affect the company's commercial, personal property, casualty insurance, and reinsurance operations.
November 01, 2024 | 9:01 pm
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Chubb Limited has announced significant estimated losses due to Hurricane Milton, impacting its insurance and reinsurance operations. The losses are projected to be $250-300 million pre-tax and $208-250 million after-tax.
The announcement of substantial estimated losses due to Hurricane Milton is likely to negatively impact Chubb's stock price in the short term. The losses affect key areas of the company's operations, including commercial and personal property insurance, casualty insurance, and reinsurance. This financial impact is significant enough to influence investor sentiment and potentially lead to a decrease in stock price.
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