The Chilean earthquake and European Windstorm Xynthia will cost Bermuda's insurance industry around $2.5 billion in claims, according to figures released in the companies' first-quarter earnings reports.

PartnerRe, Validus Holdings and Everest Re took the biggest hits from the two catastrophes during the first quarter of 2010.

PartnerRe's combined estimated losses for the two disasters was $334 million, while Validus suffered a $288 million hit and Everest $250 million, after tax.

Meanwhile, early estimates of the Deepwater Horizon oil platform spill already total $230 million after six companies released an estimated figure.

Again PartnerRe was the most impacted, anticipating up to $70 million in claims as a result of the ecological disaster in the Gulf of Mexico, with Validus' estimates up to $45 million and Catlin coming in at $40 million.

The figures do not include privately-held companies, including Ariel Re, Harbor Point, Ironshore and Torus.

The biggest profits recorded for the quarter were by Ace ($755 million) and Arch Capital ($210.5 million). Validus, White Mountains and Everest reported the only net losses at $118.4 million, $40 million and $22.7 million over the same period.

The total cost of the earthquake, the world's fifth-strongest in a century, may be almost $30 billion, Chilean President Sebastian Pinera told reporters in March, while catastrophe modeller Eqecat Inc. said that insured losses may reach $8 billion.

American International Group Inc. (AIG) and Warren Buffett's Berkshire Hathaway Inc. incurred more than $800 million in costs from the 2010 disasters, pushing the industrywide cost of the largest first quarter catastrophes past $6 billion.

Berkshire said the claims were about $500 million from the earthquake and storms in Europe, Australia and the US. AIG said on May 7 that losses from the earthquake were $310 million. Munich Re and Swiss Reinsurance Co., the world's largest reinsurers, had at least $600 million in costs tied to the earthquake and Windstorm Xynthia.