The various catastrophes that have hit the Asia-Pacific region this year will cost Zurich Financial Services an estimated $US500 million ($484 million).

The insurer says the figure is based on preliminary reviews net of reinsurance and before tax.  

“The full loss assessment, and therefore the ultimate cost, will take time to complete due to the extreme nature of the losses and the limited access to the damaged areas, particularly in Japan but also in New Zealand,” Zurich CEO Martin Senn said last week.

The losses for the five Australia events – the Queensland floods, the Victoria storms and Cyclone Yasi, the Christchurch earthquake and the earthquake and tsunami in Japan – will be included in Zurich’s first-quarter results, which are due for release in May.