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PartnerRe estimates $169m catastrophe losses

Devastation: Searching through the debris in Iwaizumi, northern Japan following March's massive earthquake and tsunami

Bermuda reinsurer PartnerRe yesterday revealed that it expects to book $169 million in catastrophe losses in its third-quarter results.More than $100 million of this amount relates to an increase in estimated losses from the Japan earthquake and tsunami, which took place in March.Another $35 million has also been added to the company’s estimate of losses relating to to earthquake in Christchurch, New Zeland, which devastated a large part of the city in February.PartnerRe added that there were no individual loss events of more than $35 million that occurred during the third quarter.The losses come on top the $1.26 billion in net catastrophe losses the company recorded in the first six months of the year. During the first half, the company made a net loss of nearly $683 million.The company is scheduled to release third-quarter results after the close of trading next Monday.