NU Online News Service, July 15, 1:55 p.m.EDT

AXIS Capital Holdings Limited says it expects between $90million and $105 million in second-quarter losses, net ofreinsurance, tax and reinstatement premiums, from a June aftershockin Christchurch, New Zealand and from April and May U.S.storms.

The Pembroke, Bermuda-based specialty insurer and reinsurer saysthe New Zealand aftershock is expected to cause losses of between$30 million and $35 million, while the U.S. storms are expected tocause between $60 million and $70 million in losses.

The company adds that updated information from first-quartercatastrophes is expected to add another $20 million in losses.“Favorable developments related to the net loss estimates for theearthquake and tsunami in Japan and the loss events in Australiathat occurred during the first quarter are expected to largelyoffset an increase in the net loss estimate for the New Zealandearthquake that occurred during the first quarter,” AXIS says.

For industry-wide losses, AXIS says it expects $3 billion forthe second-quarter New Zealand aftershock and $16 billion from theU.S. storms.

Aon Benfield, the global reinsurance intermediary of Aon Corp.,says the tornado-spawning thunderstorms in the U.S. during Apriland May are expected to cause losses of around $15 billion.Catastrophe-risk modelers estimate insured losses of between$2 billion and $6 billion for the late-April tornado outbreak.AIR Worldwide adds up to $7 billion in losses due to late-Maystorms.

For the New Zealand June aftershock, catastrophe-modeler EQECATsays it expects insured losses of between $3 billion and $5billion.