These Important Insurance Companies are On Our Radar Before Earnings

Tower Group, Inc. (NASDAQ:TWGP) will unveil its latest earnings on Monday, November 7, 2011. The average estimate of analysts is for net loss of 17 cents per share, a swing from net income of 77 cents in the year earlier quarter. During the past three months, the average estimate has moved down from 75 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 73 cents during the last month. Analysts are projecting profit to rise by 32.5% versus last year to $1.72.

The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 3 cents, reporting profit of 63 cents per share against a mean estimate of net income of 60 cents per share. On average, analysts predict $388.4 million in revenue this quarter, a rise of 2.5% from the year ago quarter. Analysts are forecasting total revenue of $1.56 billion for the year, a rise of 20.9% from last year’s revenue of $1.29 billion.

Competitors to Watch: The Travelers Companies, Inc. (NYSE:TRV), W.R. Berkley Corporation (NYSE:WRB), The Progressive Corp. (NYSE:PGR), Markel Corporation (NYSE:MKL), American Financial Group (NYSE:AFG), RLI Corp. (NYSE:RLI), Harleysville Group Inc. (NASDAQ:HGIC), The Hanover Insurance Group, Inc. (NYSE:THG), and Selective Insurance Group (NASDAQ:SIGI).

The Progressive Corp (NYSE:PGR) will unveil its latest earnings on Monday, November 7, 2011. The average estimate of analysts is for profit of 38 cents per share, a decline of 15.6% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 39 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 38 cents during the last month. For the year, analysts are projecting net income of $1.49 per share, a decline of 7.5% from last year.

The company is looking to top analyst estimates this quarter after trailing for the two previous quarters. Last quarter, it missed estimates by reporting profit of 24 cents per share against an estimate of net income of 27 cents per share. The quarter before that, it missed expectations by one cent. On average, analysts predict $3.41 billion in revenue this quarter, a rise of 4% from the year ago quarter. Analysts are forecasting total revenue of $15.02 billion for the year, a rise of 3.7% from last year’s revenue of $14.48 billion.

Competitors to Watch: Safety Insurance Group, Inc. (NASDAQ:SAFT), The Allstate Corporation (NYSE:ALL), First Acceptance Corp. (NYSE:FAC), 21st Century Holding Co. (NASDAQ:TCHC), Tower Group, Inc. (NASDAQ:TWGP), Mercury General Corp. (NYSE:MCY), White Mountains Insurance Group, Ltd. (NYSE:WTM), Horace Mann Educators Corp. (NYSE:HMN), Infinity Property and Casualty Corp. (NASDAQ:IPCC), and Gainsco, Inc. (AMEX:GAN).