Bermuda-based PartnerRe Ltd. has an exposure of between between $27 million and $30 million to a January 19 explosion at an Algerian gas plant.

And ACE Ltd. is one of three companies that led the reinsurance programme.

Business Insurance reported on Friday that the explosion is expected to cost insurers about $500 million.

The explosion at the plant, which is owned by La Soci?t? Nationale Sonatrach, killed 23 workers and injured 74, Sonatrach said in a statement.

The three liquefied natural gas units of the plant that were destroyed were insured by Algiers-based insurer Compagnie Alg?rienne des Assurances Transports and were reinsured internationally, sources said.

ACE Ltd., American International Group Inc. and Munich Re co-led the reinsurance program, sources told Business Insurance.

A spokeswoman for Munich Re said the reinsurer's exposure would be low, likely tens of millions of dollars.