Swiss Re said on Wednesday the insurance sector stood to lose $4-$7 billion from the earthquake in Chile, a sum unlikely to bring the long hoped-for increase in reinsurance prices.

The world's second-biggest reinsurer estimated its own losses from the Chile disaster, one of the most powerful earthquakes in a century, at around $500 million.

The company said it would also lose around $100 million from winter storm Xynthia which caused widespread damage in northern Spain and France at the end of February.

(Reporting by Jason Rhodes; Editing by Dan Lalor)