LONDON (Reuters) - Reinsurer Alea Group said on Monday it expected to make a loss after tax of between $200 million and $240 million (113 million and 136 million pounds) for 2005, as heavy catastrophe claims, reserve additions and charges for stopping writing business bit hard into its results.

The news sent its shares plunging to an all-time low of 68-3/4 pence at 8:29 a.m., down more than 18 percent from last Friday's closing price of 84-3/4 pence.

Alea shares were listed in November 2003 at 250 pence each, but have sunk following a string of disappointing earnings.

Bermuda-based Alea said it expected charges of $95 million to $105 million in 2005 as a result of going into run-off -- when it shuts to new business and pays off claims from existing policies. It put its share of the cost of the 2005 U.S hurricanes at $108 million to $125 million.

It said it also had to put aside further money to strengthen its claims reserves, taking the final reserve charge total for 2005 to $95 million.

The company warned that its loss forecast is a preliminary estimate and may change substantially when its accounts are properly audited before its results announcement, expected in early April.

Alea has sold the renewals rights for part of its European, US and London-based operations - effectively the ability to speak to its clients directly to take over Alea's share of their reinsurance - after its plans to raise new capital were scuppered by downgrades from ratings agencies.