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Tags: chubb | allstate | harvey | losses | insurance

Barron's: Chubb, Allstate Able to Absorb Harvey Losses

Barron's: Chubb, Allstate Able to Absorb Harvey Losses
(Alan Crosthwaite/Dreamstime)

Sunday, 03 September 2017 07:40 PM EDT

The damage from Hurricane Harvey, while likely one of the costliest disasters for property and casualty insurers, probably will not meaningfully dent the industry’s capital base, Barron’s said on Sunday, naming insurer Chubb as a top pick.

Barron’s also said that auto-insurance exposure to the hurricane, while large, is manageable - allowing industry leaders such as Allstate to manage well through the crisis.

Insurer Chubb Ltd. is still a good bet for investors, Barron’s said, and has greater international exposure plus more growth opportunities than domestic competitor Travelers Insurance.

Auto losses are higher than initial projections, but Allstate Corp. and Berkshire Hathaway Inc. can comfortably absorb them, Barron’s said.

© 2024 Thomson/Reuters. All rights reserved.


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The damage from Hurricane Harvey, while likely one of the costliest disasters for property and casualty insurers, probably will not meaningfully dent the industry’s capital base, Barron’s said on Sunday, naming insurer Chubb as a top pick.
chubb, allstate, harvey, losses, insurance
109
2017-40-03
Sunday, 03 September 2017 07:40 PM
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