Tower Group Int'l Q2 Loss Widens - Quick Facts

(RTTNews) - Tower Group International, Ltd. (TWGP) Friday reported second-quarter net loss attributable to common shareholders of $507.3 million or $8.88 per share, wider than $16.8 million or $0.39 per share in the same period last year.

Operating loss for the quarter was $291.1 million or $5.10 per share, wider than $17.3 million or $0.40 per share in the prior year quarter. On average, five analysts polled by Thomson Reuters expected the company to lose $5.42 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues declined to $419.98 million from $466.82 million last year. Analysts expected revenues of $446.56 million.

Net premiums earned amounted to $376.55 million, down from $417.61 million last year.