PartnerRe has provided an initial estimate of German hailstorm losses.The Bermuda re/insurer said it estimated the cost of the storms in the last week of July will be between $50 million and $60 million pre-tax and net of retrocession and reinstatement premiums.“These losses will be recorded in the company’s third quarter 2013 results,” PartnerRe said.“The majority of these losses are expected to impact the company’s Catastrophe sub-segment.“The Company’s estimate of losses for these events is based on information received to date from the Company’s cedants, as well as analysis of the Company’s exposures. There is considerable uncertainty associated with any loss estimate. The ultimate loss, therefore, may differ materially from the current estimate.”According to industry blog Artemis, the catastrophe modeller AIR Worldwide said that the two hail events on July 27 and 28 caused a total of from 1.3 billion euros to 1.5 billion euros (US$1.7 billion to US$2 billion) in insured losses. That puts them as the second-largest hail event on record in Germany, after a storm which struck Munich in 1984, and makes them one of the 10 most expensive natural disasters to ever hit Germany.