Chubb expects up to $300 million in Milton losses

Chubb Ltd. estimates its total losses related to Hurricane Milton will be $250 million to $300 million.

The estimated loss from the storm after tax and net of reinsurance, including reinstatement premiums, is $208 million to $250 million, the insurer said late Friday.

Milton hit Florida’s Gulf Coast Oct. 9 as a Category 3 hurricane.

Catastrophe modeling companies have issued various total insured loss estimates for the storm, ranging from $17 billion to $36 billion, depending on whether all related flood and tornado losses are included.