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Tower Group expects profit within analysts' expectations

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By AP
06 May 2008 @ 09:00 am EST

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NEW YORK - Tower Group Inc. on Tuesday issued a profit forecast consistent with analysts' expectations after reporting a 28 percent acceleration in first-quarter earnings.

Quotes

TWGP

21.2

0.66

The insurer expects to earn $67.5 million to $70 million, or $2.90 to $3 per share, in 2008. Analysts polled by Thomson Financial expect profit of $2.94 per share.

For the second quarter, Tower Group expects profit of $14.9 million to $15.8 million, or 64 to 68 cents per share. Analysts expect profit of 67 cents per share.

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