Montpelier Re Holdings Ltd has estimated losses from severe weather events in the US during the second quarter at $35 million.Fellow re/insurer Flagstone Reinsurance Holdings SA also expects to take a hit of $25 million to $30 million for the same period.The events include severe flood, hail, wind events, as well as the devastating tornado outbreaks in April and May.Montpelier said the loss estimate was pretax and net of reinsurance recoveries and reinstatement premiums.In addition, Montpelier does not expect to incur any losses from last month’s New Zealand earthquake and does not anticipate any material development to its reported net loss reserves associated with the first-quarter 2011 international catastrophe events, which include the Japan and New Zealand earthquakes and the Australian floods and cyclone.Flagstone said that due to updated loss estimates for catastrophes that occurred during the first quarter, the company also expected its collective loss estimate related to these catastrophes will impact the second quarter by $20 million to $25 million.Flagstone CEO David Brown said: “Though only at its midpoint, 2011 is already one of the most unprecedented years for significant global catastrophes the industry has ever seen. Despite these incidents, there was no material impact on our capital, our renewals in the market have been solid, and our overall capital levels remain strong.”