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Tower Ratings and Company Information
Best Insurance Reports: A-
Url of page where rating was collected:
Best Rating: A.M. Best rating: A- (excellent)
Type of Insurance Company: Stock
Name of Parent Company:
Tower Group Companies
Tower Insurance Co. of New York
Tower National Insurance Co.
Company History: Tower Insurance Co. of New York founded 1990. Tower Group purchased North American Lumber Insurance Company in 2005 and renamed it Tower National Insurance Company (TNIC). TNIC provides property and casualty insurance in New Jersey and Massachusetts with plans for further territorial expansion into New York, Pennsylvania and other New England states.
Principle Sales Methods: Independent agents and brokers.
Homeowners Business: Tower sells Homeowner, Dwelling Fire and 3 & 4 Family Dwelling Insurance.
Special Business: Tower sells a variety of property and casualty insurance for businesses.
Company Financial Status:
Ticker Symbol: TWGP (NASDAQ)
Assets & Premiums: 2006 Assets: $954.1 million
2006 Premiums: $433 million
Lines of Insurance:
States licensed to sell insurance in:
MA, NJ, NY