Catlin Group has said it now estimates net losses for hurricanes Katrina, Rita and Wilma to total $305m.
Catlin said this follows a £75m increase in the net estimate for hurricane Katrina to $200m.
The company also announced completion of its initial loss estimates from Hurricane Wilma, which it said were $45m net of reinsurance.
There was no material change to the estimated net loss of approximately $60m from Hurricane Rita.
In a statement, the company said its direct insurance losses with respect to Hurricane Katrina continued to be within expectations, and significant reinsurance protection remains for those accounts. Loss details for the catastrophe reinsurance book, which was not reinsured, remain incomplete, it also said.
In spite of the unprecedented natural catastrophe losses during 2005, Catlin said it remained optimistic that it would achieve a small profit for the year.
Chief executive Stephen Catlin said Catlin's balance sheet remained strong: "As the year-end renewal season begins, we are ready to take advantage of significantly improved underwriting opportunities across our portfolio."
