* Was one of most exposed insurers
* Expects new share buyback program next month
Dec 11 Property insurer Chubb Corp said
on Tuesday it expects after-tax losses of $570 million from
Superstorm Sandy, and added it will resume its share buyback
Chubb was one of the most exposed insurers to Sandy, which
struck the Northeastern states on Oct. 29. The company
previously suspended its buyback program because it was unsure
how much Sandy would cost.
But now that the bill is known, Chubb will resume buybacks,
though it said it did not expect to complete its current $1.2
billion authorization by the end of January as planned.
Chubb said it expects to announce a new buyback program in