Tower Group, Inc. Provides Estimate of Losses from Unusually Severe Weather Activity in the Second Quarter

NEW YORK--(BUSINESS WIRE)-- Tower Group, Inc. (Nasdaq: TWGP) announced today that it expects to include in its second quarter earnings results $8 million in pre-tax charges from the unusually severe weather activity that occurred in April, May and early June 2011. Tower expects the weather-related losses will reduce its second quarter earnings by $0.13 per share. Tower expects 2011 operating earnings per share to be at the lower end of its previously announced 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/

Bill Hitselberger
Executive Vice President and Chief Financial Officer
Tower Group, Inc.
212-655-2110
bhitselberger@twrgrp.com

Source: Tower Group, Inc.

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