PEMBROKE, Bermuda—PartnerRe Ltd. has made an initial estimate of its losses from the recent earthquake in Christchurch, New Zealand, putting it between $180 million and $240 million.

The Pembroke, Bermuda-based reinsurer said Tuesday that its estimate is based on projected industrywide losses of $10 billion New Zealand ($7.39 billion) to $15 billion ($11.1 billion) New Zealand.

The reinsurer said its estimate was pretax and net of retrocession and reinstatement premiums.