Swiss Re said that the Tianjin explosion in China will leave it with an approximately $250 million claims burden, but news of the claims hit didn’t mar an otherwise solid 2015 third quarter.

The August catastrophe is substantial in that it is “likely to constitute one of the largest manmade loss events in Asia to date,” according to the reinsurer. Swiss Re cautioned that the continued assessment of damage could change the final number.

PartnerRe, by contrast, said its Tianjin-related losses will hit between $50 million and $70 million pre-tax. Validus Holdings Ltd. estimated just under $44 million in losses from Tianjin, though Zurich Insurance Company Ltd. said it lost $275 million from the same event.

The insurer tallies come in the months after Guy Carpenter estimated that insurance losses from the Tianjin explosion could hit $3.3 billion overall.

Swiss Re said its 2015 third quarter property casualty reinsurance income reached $1 billion, up from $842 million in the 2014 third quarter. The good results stemmed from the lack of large natural catastrophe losses, reserve releases and strong investment results.

The division booked $4.1 billion in net earned premiums, a downtick from $4.3 billion over the same period last year. Swiss Re said the results reflect foreign exchange impacts, and that premiums earned would have grown $1.4 percent at constant foreign exchange rates thanks to U.S. casualty growth.

Swiss Re’s property/casualty reinsurance combined ratio came in at 78 for the quarter, versus 76.7 in the 2014 third quarter.

With all divisions combined, Swiss Re booked $1.4 billion in net income, or $4 per share in earnings. That’s compared to more than $1.2 billion, or $3.59 per share, in the 2014 third quarter.

Swiss Re’s life/health reinsurance arm saw dips in premiums earned and free income during the quarter, but a healthy gain in net income. Corporate Solutions and Admin Re both saw big drops in net income and premiums earned through Q3. Various impacts stemmed from the challenging market, investment returns and foreign exchange issues.

Source: Swiss Re