HAMILTON, Bermuda—XL Capital Ltd. said Wednesday that its preliminary combined loss estimates for the Chilean earthquake and Windstorm Xynthia could be as high as $230 million.

XL said that its preliminary loss estimates related to the earthquake in Chile range from $140 million to $205 million. Of that, $75 million to $85 million is attributable to its insurance segment, while $65 million to $120 million is attributable to its reinsurance segment.

For Xynthia, which swept through parts of Europe late last month, XL said it expects losses to range from $20 million to $25 million attributable exclusively to its reinsurance segment.

“Based on our early reviews of losses on an industry and regional basis, we believe our estimated loss exposures demonstrate the effectiveness of underwriting processes and risk management culture we have built at XL,” Michael McGavick, XL CEO, said in a statement.