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Tower Group Inc. said 2010 second-quarter net income was $28.3 million, down from $30.6 million a year ago, while gross premiums written increased 26.7 percent from the integration of its CastlePoint and Specialty Underwriters' Alliance acquisitions.

OneBeacon Insurance Group has completed the sale of its personal lines business to Tower Group, receiving approximately $167 million.

Bermuda-based insurer OneBeacon Insurance Group said it will sell its personal lines business to Tower Group Inc. for about $180.5 million.

Tower Group said William E. Hitselberger of PMA Capital Corp. will replace Francis M. Colalucci, who is retiring, as the company's chief financial officer.

Tower said it expects to record an other-than-temporary impairment and take a non-cash charge to earnings during the third quarter totaling $2.1 million, net of tax, for bonds issued by Lehman Brother

During an investor's conference call early this month, Michael H. Lee, chairman and chief executive officer of both Tower and CastlePoint, said the deal will increase shareholder value and create

During an investor's conference call Michael H. Lee, chairman and chief executive officer of both Tower and CastlePoint, said the deal will increase shareholder value and create efficiencies. Both man

It's Not About Tech - Or Is It?Microsoft, IBM want to talk about your business.BY ARA C. TREMBLYWhere theres a boatload of money to be ...