These estimates, made by Munich Re, the biggest reinsurer in the world, take into account hurricanes Charley, Frances, Ivan and Jeanne in the Caribbean and southeastern United States as well as the Songba and Chaba typhoons in the Pacific region.

The figures are only provisional and hurricane and typhoon season is still under way.

The recent spate of tropical storms is bad news for reinsurers after several tough years although one positive aspect for the industry is that it could allow them to hold reinsurance prices steady or even raise them in 2005.

Assurances Generales de France chief executive Jean-Philippe Thierry said at the annual meeting of global insurers and reinsurers in Monaco in mid-September: "Florida was able to absorb two hurricanes -- Charley and Frances -- but after the third, reinsurers are going to suffer."

Florida is now mopping after its fourth hurricane.

As a result, reinsurers were busy last week calculating their costs and several said their 2004 results would be hit by the succession of storms.

Munich Re management board member Stefan Heyd said Wednesday: "In spite of the loss picture being more favourable now, the overall burden including the losses from Hurricane Jeanne will make it much more difficult to achieve our two billion euro (2.5 billion dollar) full year 2004 net profit target."

German reinsurer Hannover Re, the fifth-biggest reinsurer, has estimated its exposure to the first three hurricanes at 170 million euros which should shift its results into the lower end of forecasts.

"If there are other natural catastrophes, we will re-examine our objectives," a spokesman said.

The second biggest reinsurer, Swiss Re, is expecting to have to pay out 600 million dollars without taking the most recent hurricane, Jeanne, and the most recent typhoon, Meari, into account. The company might even have to dip into its reserves to cover the costs.

French reinsurer Scor, which earlier this year returned to profit after three years of losses, estimated the storms would have an impact of 30.5 million euros before taxes in its third quarter accounts.

Bermuda-based reinsurer PartnerRe said it expected the first three hurricanes to cost it 87 to 97 million dollars and weigh on its third quarter results.

"Our ability to reach our plan for 2004 of a minimum of 6.90 dollars in operating earnings per share will be dependent upon our exposure to Hurricane Jeanne and large loss experience for the remainder of the year," president and chief executive Patrick Thiele said in a statement.

Struggling Swiss reinsurer Converium said the storms would cost it about 90 million dollars.

As for insurers, German giant Allianz has estimated that its exposure is limited. Local Florida insurers, such as Allstate and State Farm, are expected to be hardest hit, although government catastrophe funds should take some of the cost.

All rights reserved. � 2005 Agence France-Presse. Sections of the information displayed on this page (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence, you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the content of this section without the prior written consent of Agence France-Presse.