Chubb releases $364mn in Covid-19 reserves in Q4
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Chubb releases $364mn in Covid-19 reserves in Q4


Chubb’s Q4 earnings benefitted from $364mn in reserve releases tied to the pandemic, but were more than offset by a $375mn reserve charge connected to its settlement with the Boy Scouts of America, the carrier’s management team said Wednesday.

The Covid-19 claims takedown is the most substantial reserve release to date by a publicly-traded insurer, after a range of companies posted significant pandemic-related losses throughout 2020, mostly in the form of IBNR reserves.


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