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Axis, RenRe estimate combined Japan losses of $500m

Axis Capital Holdings Ltd today estimated a $285 million loss from the Japanese earthquake and tsunami that struck last month, while RenaissanceRe Holdings Ltd expects to take a hit of approximately $220 million and Argo Group International Holdings Ltd estimates a loss of $60 million.The three Bermuda companies all announced their estimates after the close of trading on US stock markets today.Axis said its losses related to the disaster are expected to primarily impact its reinsurance segment.Axis estimates that total insured losses, excluding losses assumed by the Japanese government, will be in the range of $30 billion to $35 billion.