More Bermuda insurers announced yesterday that the active hurricane season will batter their third quarter profits.said it expected the effects of hurricanes Charley, Frances, Ivan and Jeanne to reduce third-quarter results by about $130 million.

In a press release late on Thursday, the insurance company said its estimate is based on reported losses to date, commercial and proprietary catastrophe modelling and industry-wide loss estimates of about $25 billion.

Last month, Platinum Underwriters cut its full-year earnings estimate to $3 a share from earlier guidance of more than $3.75 a share, citing losses from Hurricane Frances. The company plans to issue updated guidance when it reports third-quarter results on November 4, after the market closes.a Bermuda-based specialty insurer, said 2004 pre-tax profit will probably be $50 million lower than expected because of claims related to damage from four hurricanes that struck the US since August. The losses are likely to have a positive effect on premium rate levels worldwide, the company said.

"This estimate is subject to change ? either upwards or downwards ? as further information becomes available to the group," the company said.

New Bermuda insurer said it expects third- quarter losses from recent hurricanes of about $46 million.

In a Press release on Thursday, the Bermuda holding company said almost all of these losses are from its reinsurance business segment and will be mitigated by future earnings of premium from reinsurance contracts.

Quanta said its estimate for Hurricanes Charley, Frances, Ivan and Jeanne includes an updated amount for Hurricane Charley, which is consistent with the mid-point of a previously announced estimate.

In August, the company said it expected to incur losses of $12 million to $18 million in the third quarter as a result of Hurricane Charley.