Hurricane Sandy is likely to wipe out the fourth quarter earnings of Chubb, Allstate and Arch Capital Group says a Credit Suisse analysts.
In a research report released today, Credit Suisse assumes a $10 billion loss from Hurricane Sandy, which continued to gain strength as it prepared to hit the Northeast around mid-day Monday.
Credit Suisse based its loss analysis on a $10 billion estimated cost, which its analysts said would make it the fifth costliest hurricane in history.
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