PARIS—French reinsurer SCOR S.E. said Friday that despite several natural catastrophes during the first quarter, none is expected to have a “material impact” on its financial strength or solvency position.

Based on preliminary estimates, SCOR said it expects costs related to the 8.8 magnitude earthquake in Chile to amount to €95 million ($129.4 million), which the Paris-based reinsurer said is about half of its annual catastrophe budget.

SCOR did note that there is some uncertainty surrounding that estimate, as approximately half of the losses are estimated to come from SCOR treaty business, with insurance industry market loss estimates from the earthquake ranging from $5.5 billion and $8.5 billion. In a statement, SCOR said “the rest of the losses relates to the facultative book and contains a higher degree of uncertainty.”

SCOR’s initial estimate of losses stemming from the 7.3 magnitude earthquake that struck Haiti in January was approximately €27 million ($36.8 million), while the reinsurer said initial estimates of losses from Windstorm Xynthia were approximately €35 million ($47.7 million).