Chubb’s Q1'25 net income down 37% amid $1.5bn LA wildfire loss

Between January and March 2025, natural disasters caused worldwide insured damage of 56 billion dollars (49 billion euros) – almost three times the average of ten years. By far the most expensive event is the January fires in the Greater Los Angeles area, reinsurance broker Gallagher Re writes in a recent report. A significant part of the total natural disaster budget of reinsurers is thus used up. With a share of 92 percent of the total insured…

Chubb’s Q1'25 net income down 37% amid $1.5bn LA wildfire loss

Global insurer Chubb has announced its financial results for the first quarter of 2025, reporting a net income of $1.33 billion, impacted by total pre-tax net catastrophe losses of $1.64 billion, which includes $1.47 billion from the California wildfires. The company’s Q1 2025 net income represents a 37% decrease compared to the $2.14 billion reported in the same period of 2024. Core operating income for the first quarter of 2025 also declined t…

Q1'25 insured losses hit $56bn, driven by LA wildfires: Gallagher Re - Artemis.bm

This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. Reinsurance broker Gallagher Re has estimated that preliminary total insured catastrophe losses for the first quarter of 2025 reached $56 billion, which makes it the costliest first quarter for the private insurance market and government-sponsored insurance entities since 2011, and 176% higher than the Q1 decadal average of $20 billi…