Chubb Group has announced it will push back the announcement of its third quarter results until October 30.

Chubb said the delay is due to an asbestos review which will form part of its results. The delay has sparked fears that Asbestos claims have taken a major toll on the insurance industry.

"It's just a thorough review that we go through every year, but in light of the current changes we're making, we've got to take it into account in the third quarter," a Chubb spokesman said.

Earlier this year, the company said it would increase its £270m in asbestos reserves if the outside firm conducting its yearly actuarial review deemed it necessary.

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