Bermuda insurance and reinsurance company Arch Capital Group Ltd. said Monday it expects to record third-quarter catastrophe losses of $252 million.

The estimated loss is equal to ten percent of the company?s capital which stood at $2.5 billion at the end of June. Arch?s loss from the devastating August 29 hurricane Katrina is expected to be $173 million. Later hurricane, Rita, is to cost the company a further $48 million.

Dennis and Emily, two storms that struck earlier in what has been an abnormaly active Atlantic storm season, will cost the company $18 million. Arch also expects to pay out $13 million in claims from flooding this summer in Central Europe.

The company said the after-tax net estimates of loss are based on information currently available including from computer models that asses the possible risk in policies sold, industry assessments and preliminary claims information.

Katrina?s devastation of the Gulf Coast region, which included massive flooding, has made it difficult for insurance adjusters to access some areas.

Arch said the majority of the losses, 63 percent, are expected to be file by reinsurance customers. The balance of Arch?s third-quarter catastrophe claims will stem from insurance policies. Reinsurers contract to take on some of the risk of losses on policies that insurers sell to individuals and companies.

The company releases its results on October 26.