KBW Maintains Outperform on Chubb

KBW is out with its report today on Chubb (NYSE: CB), maintaining Outperform.

In a note to clients, KBW writes, "Chubb announced estimated April and May pre-tax catastrophe losses of between $250 and $310 million (9.9 pts & $0.62/share) or 1.2% of 1Q11 equity at the midpoint. The losses were primarily related to tornado and storm activity in the U.S. As a result of this announcement, we are lowering our EPS estimates, but maintain our Outperform rating."

Shares of CB closed Monday at $62.30, down 0.57% from Friday's close.