Exhibit
99.1
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News from The Chubb Corporation |
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The Chubb Corporation |
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15 Mountain View Road P.O. Box 1615 |
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Warren, New Jersey 07061-1615 |
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Telephone: 908-903-2000 |
Chubb Estimates Losses from April and May Catastrophes;
Will Announce Second Quarter Earnings on July 21
FOR IMMEDIATE RELEASE
WARREN,
New Jersey, June 20, 2011 The Chubb Corporation [NYSE: CB]
announced today that it estimates aggregate losses from catastrophes for the months of
April and May 2011 were approximately $250 million to $310 million before tax
(approximately $0.55 to $0.68 per share after tax). Losses during the two month period
were primarily related to tornadoes and severe storms in the United States. The impact
of these catastrophes will be reflected in Chubbs second quarter 2011 financial
results. Chubb had previously disclosed in its Form 10-Q for the quarter
ended March 31, 2011 that its estimated catastrophe losses for the month of April 2011
were between $175 million to $225 million before tax.
Chubb expects to release second quarter 2011 earnings on Thursday, July 21, 2011
after the close of the market. The press release and financial supplement will be
available shortly thereafter on Chubbs website at
www.chubb.com.
A conference call will take place on the same day, Thursday, July 21, 2011 at 5:00
p.m. Eastern Daylight Time hosted by Chairman, President and CEO John Finnegan and other
members of senior management. The call will be broadcast live over the Internet. To
listen to the conference call log on to Chubbs website at www.chubb.com and click on
the microphone icon. If you are unable to listen to the live webcast, a replay of the
call will be available through Friday, August 19, 2011 on Chubbs website at
www.chubb.com approximately two hours following the webcast.
You may pre-register to listen to the live conference call on Chubbs website at
www.chubb.com by clicking on this press release in the press release category of our
home page.
FORWARD-LOOKING INFORMATION
Some of the statements in this release, including those about estimated catastrophe
losses, are forward-looking information as that term is defined in the Private
Securities Litigation Reform Act of 1995 (PSLRA). These forward-looking statements are
made pursuant to the safe harbor provisions of the PSLRA. Actual results may differ
materially from those suggested by the forward-looking statements as a result of risks
and uncertainties, which include, among others, those discussed or identified from time
to time in our public filings with the Securities and Exchange Commission. Chubb
assumes no obligation to update any forward-looking information set forth in this
release, which speaks as of its date.
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For further information contact:
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Investors:
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Glenn A. Montgomery |
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908-903-2365 |
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Media:
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Mark E. Greenberg |
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908-903-2682 |