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Tower Group International, Ltd. Message Board

  • mysticpaste mysticpaste Sep 23, 2013 10:27 AM Flag

    I hope they are doing the $50Million Buyback that they had announced

    These guys could have bought the 1 Million shares and saved the share price....Anyway I think now would be a better time. About 3 million shares less in the outstanding.

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    • So we know they have to make some announcement about 2nd quarter earnings. Lets say they must take a loss of 200 mil after tax for pas years reserving problems. Then they would also have to write off most or all of their goodwill and possibly some other intangibles. This would put the net worth of the company and insurance company stat. surplus well below that which would sustain their AM Best rating. Rarely does an insurance company come out of a B rating by AM Best. so then it is a downward spiral. Therefore we can only hope for a strong buyer who will pay some premium over what it is really worth. Otherwise it is dead.

      • 3 Replies to hearnthar
      • Why just double the TWGP's stated position that the reserve loss will be between 60M and 110M? Why not take it to 3X or 4X as long as you're making up numbers? The fact is no one knows the real number, that won't for another couple weeks. But what we do know is it's this uncertainty, displayed by your post, that is driving the share price lower. Some will see this as "proof" the company is lying, and some will see it as an opportunity to make a large sum of money.

        Sentiment: Strong Buy

      • Dont you think this will be only a paper loss. If they are going to lose actual cash then they would have stopped the Dividend that they paid just two days back. They have real customers and they are making profits. This will be a passing phase and in a few days good news will be coming... Good Luck

      • I have seen all the chatter about a buyer, but have to wonder what other P&C carrier would want to take stake in the company with all its liabilities? I would think a better play for a company would be to approach the agents and look to obtain the customer base through book rolls and other marketing plays rather than own the company.

    • At todays price they will be able to buy about 5 Million shares thats 10% of the outstanding shares. 5 Million shares less from the float. So float will be only around 1 Million.

      Shorts Cover fast before it is too late.

 
TWGP
2.230.00(0.00%)Sep 12 4:00 PMEDT

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