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February 12, 2013
18:27 EDTTWGPTower Group sees Q4 after-tax loss from Superstorm Sandy $79M-$81M
Tower announced that it expects its after-tax loss in the fourth quarter of 2012 from Superstorm Sandy to be between $79M-$81M, an increase from the range of $55M-$68M that the company announced on November 7, 2012. The increase is principally due to approximately $6M after-tax in higher estimated loss adjustment expenses on Tower's direct business, along with a $5M after-tax increase in the amount of storm losses covered under its assumed reinsurance business and in certain of its alternative investments. Through February 8, Tower has closed 89% of the 24,000 claims that its stock companies received as a result of Superstorm Sandy. Tower received 99% of these claims prior to January 26.
News For TWGP From The Last 14 Days
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September 15, 2014
09:20 EDTTWGPACP Re completes Tower Group acquisition
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09:16 EDTTWGPOn The Fly: Pre-market Movers
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September 12, 2014
18:56 EDTTWGPTower Group, ACP Re, Ltd. receive all regulatory approvals for merger
ACP Re, Ltd. and Tower Group International announced that ACP Re has received all regulatory approvals required in connection with its previously announced acquisition of Tower. Each of ACP Re and Tower expects to close the merger on the morning of Monday, September 15.

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