The total expected losses from first quarter catastrophes for Bermuda re/insurers has exceeded $5 billion following the latest set of estimates released by three companies yesterday.Axis Capital Holdings Ltd has estimated a $285 million loss from the Japanese earthquake and tsunami that struck last month, while RenaissanceRe Holdings Ltd is expected to take a hit of approximately $220 million and Argo Group International Holdings Ltd estimates a loss of $60 million.Losses related to the disaster are expected to primarily impact Axis’s reinsurance segment.The net loss from the Japan earthquake to the company’s insurance segment is not expected to exceed $25 million due to reinsurance coverage limiting net retentions in the 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.