Chubb Expects LA Wildfires to Cost It $1.5 Billion This Quarter
A burned building following the Eaton Fire in Altadena, California.
Photographer: Kyle Grillot/BloombergThis article is for subscribers only.
Chubb Ltd estimates that the wildfires that ravaged swaths of Los Angeles earlier this month will cost the insurer $1.5 billion in the first quarter.
The Zurich-based firm revealed the expected cost in a statement Tuesday that detailed its fourth-quarter 2024 results, making it the first insurer to provide an estimate of wildfires’ financial impact.