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Chubb warns of Q3 cat losses

Chubb Corporation has warned it will incur pre-tax catastrophe losses of around $US400-$US475 million ($409-475 million) in the third quarter.

The company says $US300-$US375 million ($306.9-$383.6 million) of the losses are from Hurricane Irene and the remainder are from eight other catastrophe events in the US.

Chubb will report its third-quarter result on October 20. Its second-quarter result was impacted heavily by losses from the Australian floods, New Zealand earthquakes and Japan earthquake and tsunami.