Company Overview of Tower Group International, Ltd.
Tower Group International, Ltd., through its subsidiaries, provides insurance and reinsurance services to individuals and businesses primarily in the United States. It operates through three segments: Commercial Insurance, Assumed Reinsurance, and Personal Insurance. The Commercial Insurance segment offers commercial package, general liability, workers’ compensation, commercial automobile, fire and allied, inland marine, and commercial umbrella policies to businesses in various industries. The Assumed Reinsurance segment provides assumed reinsurance services in the United States and internationally. The Personal Insurance segment offers property, liability, business interruption, equipment b...
Maxwell Roberts Building
1 Church Street
PO Box 2461
Hamilton, HM JX
Key Executives for Tower Group International, Ltd.
Chief Executive Officer and President
Chief Financial Officer and Executive Vice President
Senior Vice President of Operations
Senior Vice President, General Counsel and Secretary
Chief Risk Officer, Senior Vice President and Chief Actuary
Compensation as of Fiscal Year 2014.
Tower Group International, Ltd. Key Developments
Tower Group International, Ltd.(NasdaqGS:TWGP) dropped from NASDAQ Composite Index
Sep 16 14
Tower Group International, Ltd. will be removed from the NASDAQ Composite Index.
Tower Group International, Ltd. Reports Earnings Results for the Second Quarter Ended June 30, 2014
Aug 25 14
Tower Group International, Ltd. reported earnings results for the second quarter ended June 30, 2014. The company reported shareholders' equity attributable to the company plunged to a deficit of nearly $11 million as of June 30 from a positive $36.1 million as of March 31, 2014. The company reported net loss of nearly $54 million in the second quarter. That marked a considerable improvement from the $506.5 million net loss posted by the company in the year-earlier period. Net premiums earned tumbled to $54.5 million in the second quarter from $376.6 million in the year-earlier period. Earned premiums fell to $94.7 million from $418.4 million on a year-over-year basis when incorporating the reciprocal exchanges. Net premiums written of $68.8 million, including the reciprocal exchanges, reflected $284.9 million in direct premiums written, $21.9 million in assumed premiums written, $75.3 million in ceded premiums outside of the cut-through agreements and $162.8 million in ceded premiums under those agreements.
Tower Group International Receives Nasdaq Notice Regarding Listing Requirements
Aug 19 14
Tower Group International, Ltd. announced that it received a notification letter from The Nasdaq Listing Qualification Department (Nasdaq) on August 14, 2014, stating that because Tower has not yet filed its Form 10-Q for the period ended June 30, 2014 (10-Q) with the Securities and Exchange Commission (SEC), it was not in compliance with the continued listing requirements under Nasdaq Listing Rule 5250(c)(1). This release is being issued in accordance with Nasdaq Listing Rule 5810(b). The Nasdaq notice has no immediate effect on the listing or trading of Tower's common stock on The Nasdaq Global Market. Under Nasdaq listing rules, Tower has 60 days to submit a plan to Nasdaq to regain compliance with the applicable listing rule. Tower currently expects to file the 10-Q with the SEC within approximately the next twenty days.
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