Chubb Expects Up to $240M in 2nd Quarter Cat Losses

The Chubb Corp expects to report $200 million to $240 million in catastrophe losses for the second quarter, before taxes, due to severe hail and wind storms in the U.S., the insurer said on Tuesday.

The charges amount to 48 cents to 57 cents per share after taxes, Chubb said.

The company expects to release its second-quarter results as scheduled on July 26 after the close of the market.

The second quarter was an active month for severe storms, wildfires and other natural disasters in the U.S., with broker Aon Benfield estimating that insured losses could amount to $2 billion for the month of June alone.