US insurance giant The Chubb Corporation estimates an impact of between $200mn and $240mn before tax as a result of second quarter catastrophe losses.
The losses, equivalent to $0.48 to $0.57 per share after tax, primarily related to severe hail and wind storms from a total of 13 catastrophe events in the US, said Chubb.
Chubb's announcement follows estimates from reinsurance broker Aon Benfield that severe weather events in the US in June alone are set to cost insurers $1.9bn...
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