PartnerRe Ltd., a Bermuda reinsurer, yesterday said it expects to pay out claims for damage wrought by Hurricane Wilma in both Mexico and Florida.

The storm battered parts of Mexico and the Caribbean over the week-end, and areas of southern Florida on Monday.

The news comes a day after PartnerRe announced third quarter losses of $288.7 million, after earlier losses were recorded from hurricanes Katrina, Rita and other late-summer catastrophes.

PartnerRe said it could see claims of up to three percent of insured losses in Mexico, which it estimated would be in the region of $2 billion to $2.5 billion. That means PartnerRe could pay up to $75 million in Mexican claims resulting from Wilma.

And PartnerRe said it could pay up to one percent of insured losses in Florida from Wilma, which was at one point the strongest hurricane ever recorded in the Atlantic basin. It did not put an estimate on what the industry could pay out in Florida.

Insurance modellers have estimated that altogether Wilma could cause insured losses of up to $10 billion.

PartnerRe shares yesterday fell 42 cents or 0.66 percent to $62.84 on volume of 723,500 shares.