The Chubb Corp. says it estimates its losses from Superstorm Sandy to be approximately $880 million before tax, or $570 million after tax.
The Warren, N.J.-based insurer issued a statement last yesterday saying these amounts include estimated losses and loss expenses net of reinsurance recoverable and also include estimated reinsurance reinstatement premiums.
Chubb temporarily suspended its repurchase of its common stock under its share repurchase program due to uncertainty surrounding losses from Sandy.
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