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News Breaks | | | | October 29, 2012 | | 16:34 EDT |  | TWGP | Tower Group provides information regarding catastrophe reinsurance program
Tower group earlier today provided information regarding its catastrophe reinsurance program in the event of a loss from Hurricane Sandy. Tower's retention for losses at various layers of reinsurance is as follows: $0-$75M--Retained by Tower; $75M-$150M--100% Reinsured; $150M-$225M--70% Reinsured; and $225M-$400M--100% Reinsured. Tower also purchases a further $525M of limit in two additional layers. At $150M or below, Tower’s retention is $75M. Between $150M-$225M, Tower's retention increases by 30% of the loss, up to a maximum of $97.5M at $225M. For all losses in excess of $225M up to $925M, Tower's retention remains at $97.5M. Further, to the extent that industry losses exceed $10B, Tower's retention will be reduced by $10M and to the extent that industry losses exceed $15B, Tower's retention will be reduced by an additional $10M. | |
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News For TWGP From The Last 14 Days Check below for free stories on TWGP the last two weeks. |
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| May 8, 2013 | | 17:54 EDT |  | TWGP | Tower Group sees 2013 EPS $2.40-$2.60, consensus $2.34
 Subscribe for More Information | | | 17:53 EDT | | TWGP | Tower Group reports Q1 EPS 56c, consensus 54c
Reports Q1 revenue $438.09M, consensus $415.48M. | |
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