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Chubb Ltd.CB, one of the largest domestic property and casualty insurers, held its fourth-quarter earnings call on Wednesday and addressed the future financial impacts resulting from the recent California wildfires.

The Details: Chubb CEO Evan Greenberg opened the call by expressing his condolences to the wildfire victims and gratitude to the first responders. 

"We’re doing all we can in small and big ways to ease their burden.

Our thoughts are with those who have suffered, and our gratitude goes to those firefighters and emergency workers who served tirelessly," Greenberg said. 

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The Chubb CEO then estimated losses from the wildfire catastrophe at $1.5 billion net pre-tax to be recognized in the first quarter. 

Piper Sandler analyst Paul Newsome said that given Chubb's exposure to