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Tower Group, Inc. Releases Estimate of Weather-Related Losses

^{Published on 2011-04-21 15:05:50 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Tower Group, Inc. (NASDAQ: TWGP) estimates that its losses from the increase in weather-related claims activity resulting from Northeast U.S. winter storms will be in the range of $6.5 million to $9.8 million after tax, or $0.16 to $0.23 per diluted share. The previously issued 2011 earnings guidance included a provision for winter storm losses. As a result, Tower is maintaining its previously issued guidance and expects 2011 operating earnings per share to be in the range of $2.70 to $2.90.

About Tower Group, Inc.

Tower Group, Inc. offers diversified property and casualty insurance products and services through its operating subsidiaries. Its insurance company subsidiaries offer insurance products to individuals and small to medium-sized businesses through its network of retail and wholesale agents and specialty business through program underwriting agents. Tower's insurance services subsidiaries provide underwriting, claims and reinsurance brokerage services to other insurance companies.

For more information, visit Tower's website at [ http://www.twrgrp.com/ ].