Bermuda-based PartnerRe Ltd. said yesterday that it expects claims relating to its exposure to last month?s 9.0 magnitude earthquake and resulting tsunami in Southeast Asia to be between $25-$35 million.

President & CEO Patrick Thiele said in a media release: ?This event is an unprecedented human tragedy, with the extraordinary loss of life and widespread devastation across the region representing what has become one of the worst natural disasters in recent history. On behalf of all of PartnerRe, I express our deepest sorrow over the significant loss of life and our sympathies go out to all those who have been affected by this terrible tragedy.?

The company?s loss estimate is ?based on the assessment of individual treaties and is spread across most segments, particularly Worldwide Specialty, Global P&C and Life. In addition to property losses, the global reinsurer?s exposure is concentrated in the personal accident, life, and marine lines of business?.

The death toll from the December 26 catastrophe is topping 150,000 with thousands more injured or missing and millions homeless. However the general opinion within the global insurance industry is that claims will be limited simply because there was low insurance penetration in the region.

Bermuda-based ACE has already announced that it does ?not expect any material losses from the event?.

PartnerRe management will provide additional information on the fourth quarter and full year 2004 in its earnings release in February.