The modular multilevel converter (MMC) is the most promising solution to connect HVDC grids to a HVAC one. The installation of new equipment in the HVDC transmission systems requires an economic study where the power losses play an important role. Since the MMC it is composed of a high number of semiconductors components, the losses estimation becomes complex. This paper proposes a simulation based method for the losses estimation that combines the MMC averaged and instantaneous model in a modular way. The method brings the possibility to perform comparisons in terms of losses for different modules technologies as well as different high and low level control techniques. Also the losses characteristics within the MMC are also discussed and the passive losses are firstly taken into account