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Stock Market & Financial Investment News

News Breaks
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.
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July 29, 2014
11:46 EDTTWGPTower Group to hold a special shareholder meeting
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