"catastrophic losses'' caused by catastrophes including earthquakes in Taiwan, Turkey and Mexico, a cyclone in Hong Kong and Hurricane Floyd. The company said it estimates the effect on net operating income for the quarter ended September 30 will be approximately $35 million after taxes.

The eight hurricanes which have swept across the Atlantic so far this year have cost insurance companies in total $2.1 billion. According to estimates released Wednesday from Insurance Services Office, Inc.'s Property Claim Services unit hurricanes Arlene through to Harvey have caused an estimated $1.3 billion in insured losses.

The claims have come from 831,000 householders, businesses and car owners whose property was damaged in the severe storms.

The amount of $2.1 billion covers the third quarter of the year, and the catastrophe losses are the fifth highest since records began 50 years ago.

The worst third quarter -- hurricane season -- for catastrophe losses was in 1992 when insurers faced 1 million claims for $17.4 billion in damage after Hurricane Andrew swept through Florida.

With the hurricane season well under way, so far of the eight hurricanes formed, four hit land and three of these were officially named catastrophes.