Chubb Corporation estimates its Australian flood losses to be between $75 million and $100 million

The Chubb Corporation [NYSE: CB] said its preliminary estimate of losses due to the floods in Australia would be in the range of $75 million to $100 million before tax.
The company reported this estimate in its 2010 Q4 results, although it said these losses would be factored into its 2011 Q1 financial statements.
In 2010 Q4, Chubb reported a profit of $620 million, down from $695 million over the same period in 2009.
Overall, the company’s loss and expense ratio was 87% in 2010 and 84.7% in 2009. “Chubb’s excellent results in both the fourth quarter of 2010 and the full year continue to demonstrate our ability to generate superior financial results, even in a challenging economic and industry environment,” said John D. Finnegan, chairman, president and CEO. “Particularly noteworthy were combined ratios that were below 90% in both periods and $1.9 billion of operating income in 2010.”
The company said its premiums for the fourth quarter were $2.9 billion, an increase of 3%.  Premiums were up 2% in the United States and up 5% outside the U.S. (up 4% in local currencies).  
Property and casualty investment income after taxes for the fourth quarter increased 1% to $320 million in 2010 from $317 million in 2009.