LONDON (Reuters) - British insurer Amlin said its natural disaster losses in the first quarter could be as high as £275 million ($444.5 million), including a hit of up to £150 million from the Japanese earthquake.Amlin, the biggest listed insurer operating in the Lloyd’s of London market, yesterday provisionally estimated its Japanese quake loss at between £80 million and £150 million, based on a total industry loss of $12 billion to $25 billion.The quake that hit New Zealand in February could cost £110 million, while flooding in Queensland the previous month will add another £15 million, Amlin said.Analysts said Amlin’s Japan loss estimate was in line with or slightly below their expectations, and the company’s shares were up 0.2 percent at 387 pence by 7.50am GMT, outperforming the FTSE 250 share index, which was 0.1 percent lower.The stock is still down 5.2 percent in the year to date, lagging an 8.3 percent rise in the European insurance sector.