Everest Re Group Ltd has announced it expects to make net catastrophe losses of $80 million for the second quarter.This estimate is based on an effective tax rate of 20 percent.“Despite these losses, we expect to have an underwriting profit in the quarter and a solid increase in our already strong capital position,” said Joseph Taranto, chairman and CEO of Everest Re.This estimate includes the severe weather that impacted large areas within the US during April and May and the wildfires in Alberta, Canada, as well as reflecting updated loss provisions for the first quarter catastrophe losses.Everest anticipates that losses related to the most recent New Zealand earthquake will be less than $10 million and therefore would not be reported as part of its current catastrophe loss provision.