NU Online News Service, March 1, 2:04 p.m. EST
Tower Group reported a 25.4 percent increase in fourth-quarter net income attributable to the company as higher written premiums and net realized investment gains outpaced higher losses.
The New York-based property and casualty insurer said 2010 fourth-quarter net income attributable to Tower Group was $38.5 million compared to $30.7 million for the same period a year ago. Gross premiums written climbed to $433.9 million from $327.2 million. Tower Group saw net realized investment gains in the quarter of $5.9 million compared to net realized losses of $824,000 in the 2009 fourth quarter.
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