Bermuda-based re/insurer Argo Group International Holdings Ltd expects its third-quarter results to be impacted by up to $40 million in catastrophe losses.The estimate is net of reinsurance and reinstatement premiums and ranges from $35 million to $40 million.Approximately $20 million of these losses relate to Hurricane Irene and floods in Denmark, while another $10 million relates to aggregate reinsurance covers on exposures in the Midwestern US.The balance of the estimate reflects an increase in loss estimates on other 2011 first half catastrophe events.Argo also announced that it expects to increase its asbestos and environmental reserves by approximately $10 million on a pre-tax basis, following a review of its direct and assumed exposure.