Bermuda-based Aspen Insurance Holdings released its thirdestimate of hurricane net losses this morning putting the likelyafter-tax impact in the $470-to-$535 million range.

The total includes a $27 million increase over prior estimatesfor Hurricanes Katrina and Rita, and an initial estimate for Wilmain the range of $20-to-$35 million.

In early September, Aspen released an initial estimate ofHurricane Katrina net losses of $150 million. But the insurance andreinsurance group more than doubled the figure a monthlater--putting the estimate in the $325-to-$400 million range. Inthe October announcement, Aspen also estimated that its Rita losseswould fall in the $50-to$60 million range.

The latest figures exclude the impact of potential recoveriesfrom a catastrophe swap contract placed with a non-insurancecounterparty, with a maximum recoverable of $100 million, whichwould kick in if the level of industry losses as determined byProperty Claims Services from Hurricane Katrina in the continentalUnited States exceeds $39 billion.

Aspen said its estimates reflect a combination of ground-upevaluations, information available to date from brokers, theapplication of Aspen's catastrophe modeling systems, marketintelligence, initial tentative loss reports and other sources.