NU Online News Service, March 18, 3:09 p.m.EDT

Several Bermuda companies have reported loss estimates fromfirst-quarter catastrophes, but all of the companies excluded theMarch 11 magnitude 9.0 earthquake that struck Japan, stating thatit is too early to give an estimate.

However, RenaissanceRe did comment that, according to itsinitial assessment, the net negative impact of the Japan quake onthe company’s results “will be significant and is likely to bematerial.”

Everest Re Group Chairman and CEO Joseph V. Taranto said thecompany expects Japan quake losses to be significant, but added hecould not give a reliable estimate yet “considering the fluidity ofthe situation.”

Alterra Capital Holdings said it has no information as of yetthat would indicate Japan quake losses to be outside of thecompany’s normal risk tolerances for natural catastrophe events inthat geographic region.

Endurance Specialty Holdings did not comment on Japan lossesbeyond stating that it is premature to give an estimate at thistime.

Regarding other first-quarter events, RenaissanceRe said Januaryflooding in Australia and the February New Zealand earthquake willhave expected net negative impacts of approximately $30 milion and$190 million, respectively, on the company’s quarterly results.

Everest Re said the February New Zealand quake is expected tocause losses of between $140 million and $210 million, pretax andnet of reinstatement premiums. On an after-tax basis, the companysaid the loss is expected to be between $120 million and $180million.

Alterra said its initial first-quarter loss estimates arebetween $5 million and $8 million for the Australian floods;between $6 million and $10 million for Cyclone Yasi; and between$15 million and $20 million for the New Zealand quake. The companysaid its loss estimates are pretax and net of reinsurance andreinstatement premiums.

Endurance said its loss estimate for the Australian floods is$15 million, and its estimate for the New Zealand quake is $45million. The company said it believes its losses for Cyclone Yasiare not material.

Earlier this month, RenaissanceRe CEO Neil Currie told NU that early-year losses, combined with achange to how Risk Management Solutions’ (RMS) model accounts for the way hurricanes decay overland, could turn the market.

Recently, Flagstone Reinsurance Holdings, based in Luxembourg,said it expects its losses from the quake to be between$60 million and $90 million, net of reinstatement premiums andretrocession. Flagstone also said it expects between $60 millionand $80 million in losses from the January Australia events.

Hamilton, Bermuda-based Montpelier Re Holdings said it expectsits pretax net losses from the New Zealand quake to be $75million.

Bermuda-based Catlin Group said it expects losses from New Zealand to be about $125 million,net of reinsurance and reinstatements.

XL Group put estimated losses between $70 million and $85million, mostly attributable to XL’s reinsurance segment.

PartnerRe said it expects losses of between $180 million and$240 million.

Allied World Assurance Company Holdings said it expects torecord losses of between $30 million and $40 million.

Swiss Re has come in with the highest loss estimate, at about$800 million. Hannover Re weighed in with estimated losses of $209million, and Validus Holdings expects between $25 million and $50million in losses.