Tower Group, Inc.
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Tower Group, Inc. - Company Capsule
Reference Code: FS0504CC
Published Date: April 2011
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Tower Group, Inc. - Company Capsule Page 1
Tower Group, Inc.
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Tower Group, Inc. - Company Overview
Tower Group, Inc. (Tower Group) is the US based leading insurance and risk-related services company. The company
offers a variety of specialized property and casualty insurance products and services to small and mid-sized businesses
and to individuals principally in Northeast, Florida, Texas and California. Tower Group’s activities are divided into three
reportable segments namely Brokerage Insurance, Specialty Business and Insurance Services. The company provides
commercial lines products, including commercial package, general liability, workers’ compensation and commercial auto
policies to businesses, such as retail and wholesale stores, grocery stores, restaurants, artisan contractors, and
residential and commercial buildings. In addition, the company provides personal lines products that insure modestly
valued homes and dwellings as well as personal automobiles. Tower Group is headquartered in New York, the US.
Financial Performance
The company reported total premiums of US$906.74 during the year 2009.The company's total premiums grew at a
CAGR of 52% during the period 2007-2009 with a year on year growth of 95.32% over fiscal year 2008. During the fiscal
year 2009, its operating margin was 15.55% as against the operating margin of 19.23% in the fiscal year 2008. During the
fiscal year 2009, the company’s net margin was 12.05% as against the net margin of 12.37% in the fiscal year 2008.
Tower Group, Inc. - Key Facts
Tower Group, Inc., Key Facts
120 Broadway, New York, New
Ticker Symbol, Stock
Corporate Address: York (NY), 10271, United States Exchange
TWGP (NASDAQ)
Telephone + 1 212 6552000 No. of Employees 987
Fax + 1 212 6552199 Financial Year End December
URL www.twrgrp.com Revenue (in USD Million) 983.10
Industry Financial Services
Locations United States
Source: Annual Report, Company Website, Primary and Secondary Research
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Tower Group, Inc. - Company Capsule Page 2
Tower Group, Inc.
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Tower Group, Inc. - Major Products and Services
Tower Group, Inc. is the US based company engaged in providing property and casualty insurance products and services.
Key products and services offered by the company include the following:
Tower Group, Inc., Major Products and Services
Products:
Automobile insurance
Commercial insurance
Liability coverages
Personal insurance
Property coverages
Workers' compensation
Services:
Claims service
Source: Annual Report, Company Website, Primary and Secondary Research
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Tower Group, Inc. - Company Capsule Page 3
Tower Group, Inc.
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Tower Group, Inc. - Key Competitors
The following companies are the major competitors of Tower Group, Inc.:
The Hartford Financial Services Group, Inc.
White Mountains Insurance Group Ltd
Selective Insurance Group, Inc.
The Allstate Corporation
W. R. Berkley Corporation
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Tower Group, Inc. - Company Capsule Page 4
Tower Group, Inc.
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Tower Group, Inc. - Key Employees
Tower Group, Inc., Key Employees
Name Job Title Board Level Since Age
Austin P. Young III Director Non Executive Board 2004 69
Charles A. Bryan Director Non Executive Board 2004 63
Senior Vice President - Marketing &
Christian K. Pechmann Senior Management 2006 60
Distribution
Senior Vice President, General
Elliot S. Orol Senior Management 2008 54
Counsel, Secretary
Senior Vice President, Chief
Gary S. Maier Senior Management 2005 45
Underwriting Officer
Jan R. Van Gorder Director Non Executive Board 2009 62
Chief Actuarial Officer and Strategic
Joel S. Weiner Senior Management 2009 60
Planning, Senior Vice President
Laurie A. Ranegar Senior Vice President - Operations Senior Management 2006 48
Chairman, Chief Executive Officer,
Michael H. Lee Executive Board 1995 52
President
Robert S. Smith Director Non Executive Board 2009 51
Senior Vice President, Chief
Salvatore V. Abano Senior Management 2008 46
Information Officer
Steven W. Schuster Director Non Executive Board 1997 55
William A. Robbie Director Non Executive Board 2009 58
Senior Vice President, Chief Financial
William E. Hitselberger Senior Management 2010 52
Officer
William W. Fox Jr. Director Non Executive Board 2006 68
Source: Annual Report, Company Website, Primary and Secondary Research
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Tower Group, Inc. - Company Capsule Page 5
Tower Group, Inc.
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Tower Group, Inc. - Locations and Subsidiaries
Head Office
Tower Group, Inc.
120 Broadway
New York
New York (NY)
Zip: 10271
United States
Tel: + 1 212 6552000
Fax: + 1 212 6552199
Other Locations & Subsidiaries
Tower Group, Inc., Subsidiaries
Ocean II Corporation Preserver Group, Inc.
United States United States
Tower Insurance Company of New York Tower National Insurance Company
United States United States
Tower Risk Management Corp.
United States
Source: Annual Report, Company Website, Primary and Secondary Research
Tower Group, Inc., Locations
Atlanta Branch Chicago Branch
2780 Bert Adams Road 3333 Warrenville Road
Atl