People: Tower Group International Ltd (TWGP.O)


TWGP.O on Nasdaq

19.86USD
14 Jun 2013
Price Change (% chg)

$-0.02 (-0.10%)
Prev Close
$19.88
Open
$19.75
Day's High
$19.88
Day's Low
$19.64
Volume
270,309
Avg. Vol
413,569
52-wk High
$20.62
52-wk Low
$14.56

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Summary

Name Age Since Current Position

Michael Lee

 55 1995 Chairman of the Board, President, Chief Executive Officer

William Hitselberger

 55 2011 Chief Financial Officer, Executive Vice President

William Dove

 46 2013 Senior Vice President, Chief Risk Officer, Chief Actuary

Elliot Orol

 57 2008 Senior Vice President, General Counsel, Secretary

Salvatore Abano

 49 2008 Senior Vice President & Chief Information Officer of Tower Group, Inc.

Gary Maier

 48 2005 Executive Vice President & Chief Underwriting Officer of Tower Group, Inc.

Scott Melnik

 41 Senior Vice President - Claims of Tower Group, Inc.

Christian Pechmann

 63 2006 Senior Vice President - Marketing of Tower Group, Inc.

Laurie Ranegar

 51 2006 Senior Vice President - Operations of Tower Group, Inc.

Catherine Wragg

 42 2011 Senior Vice President - Human Resources & Administration of Tower Group, Inc.

Charles Bryan

 66 2004 Independent Director

William Fox

 71 2006 Independent Director

William Robbie

 61 2009 Independent Director

Steven Schuster

 58 1997 Independent Director

Robert Smith

 54 2009 Independent Director

Jan Van Gorder

 65 2009 Independent Director

Austin Young

 72 2004 Independent Director
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Biographies

Name Description

Michael Lee

 Mr. Michael H. Lee is Chairman of the Board, President, Chief Executive Officer of Tower Group International Ltd. He has held these positions at the Company since its formation in 1995. He currently serves as Chairman of the Board of Directors, President and Chief Executive Officer of TGI and has held these positions at TGI since its formation in 1995. Before founding TGI’s first insurance subsidiary, Tower Insurance Company of New York, in 1990, Mr. Lee was an attorney in private practice specializing in advising entrepreneurs on the acquisition, sale and formation of businesses in various industries. Mr. Lee received a B.A. in Economics from Rutgers University in 1980 and a J.D. from Boston College Law School in 1983. He is admitted to practice law in New York and New Jersey. Mr. Lee has worked in the insurance industry for over 20 years with experience in insurance, finance, underwriting, sales and marketing, claims management and administration and law. Mr. Lee also served as Chairman, President and Chief Executive Officer of CastlePoint Holdings, Ltd. from its formation in 2006 until its merger into TGI in February 2009. Mr. Lee joined the Board of Directors of Canopius upon the completion of its acquisition of Omega in August 2012.

William Hitselberger

 Mr. William E. Hitselberger is Chief Financial Officer, Executive Vice President of Tower Group International Ltd. Mr. Hitselberger joined the Company in December 2009 as Senior Vice President and became Chief Financial Officer in March 2010. Before joining the Company, Mr. Hitselberger served as Executive Vice President and Chief Financial Officer of PMA Capital Corporation from April 2004 to November 2009 and as Senior Vice President, Chief Financial Officer and Treasurer from June 2002 to March 2004. Prior to this, he served as Vice President of The PMA Insurance Group from 1996 to 2002. Mr. Hitselberger is a Certified Public Accountant and a Chartered Financial Analyst. Mr. Hitselberger graduated from the University of Pennsylvania, where he received a B.S. in Economics in 1980.

William Dove

 Mr. William F. Dove is Senior Vice President, Chief Risk Officer, Chief Actuary of Tower Group International Ltd. Mr. Dove joined TGI in October 2011 as Senior Vice President and Chief Risk Officer, and became Chief Actuary in January 2012. Before joining TGI, Mr. Dove served in a series of roles with various subsidiaries of ACE Limited since 2003, most recently as Chief Operating Officer and Chief Actuary of Brandywine Group Holdings since 2007. Prior to that, he served as Chief Technical Officer of ACE Risk Management from 2006 to 2007 and as President of ACE Financial Solutions from 2004 to 2006. From 1995 to 2003, he served as Senior Vice President and Chief Pricing Actuary for Centre Insurance Company. From 1991 to 1995 he served as Assistant Vice President for Continental Insurance Company. He currently serves on the Audit & Compliance Committee of the Princeton Family YMCA. He is a Fellow of the Casualty Actuarial Society, an Associate of the Society of Actuaries, a member of the American Academy of Actuaries and a Chartered Enterprise Risk Analyst. He holds a B.A. in Mathematics from Haverford College in Haverford, PA.

Elliot Orol

 Mr. Elliot S. Orol is Senior Vice President, General Counsel, Secretary of Tower Group International Ltd. Mr. Orol joined the Company in December 2008 as Senior Vice President, General Counsel and Secretary. Before joining the Company, Mr. Orol served until November 2008 at The Navigators Group, Inc. as Chief Compliance Officer from November 2004, Senior Vice President and General Counsel from May 2005, and Secretary from May 2006. Prior to joining Navigators, Mr. Orol was in private legal practice and, from 2002 to 2003, served as Managing Director and General Counsel of Gerling Global Financial Products, Inc. From 1999 through 2001, he was a partner with the law firm of Cozen O’Connor. He served from 1996-1999 as Vice President, General Counsel and Secretary of the GRE Insurance Group, and from 1987-1996 as Vice President of The Continental Insurance Company. Mr. Orol received a B.S. in Mathematics from the State University of New York at Binghamton, a J.D. from the University of Chicago Law School and an M.B.A. from the University of Chicago Graduate School of Business.

Salvatore Abano

 Mr. Salvatore Vincent Abano is Senior Vice President, Chief Information Officer of Tower Group, Inc., a subsidiary of Tower Group International Ltd. From 2006 to 2008, he served as Vice President of Technology, Systems Development and Infrastructure for QBE the Americas. From 2004 to 2006, Mr. Abano was the Chief Technology Officer in the United States Army, under Operation Iraqi Freedom III, for the central region of Iraq. He was awarded the Bronze Star, Combat Action Badge, and other prestigious awards during his military reserves deployment. Mr. Abano is now a retired field grade officer from the military reserves with 26 years of service. Prior to his overseas deployment, Mr. Abano held the position of Vice President and CIO for Kemper Insurance Companies Northeast Region from 1999-2004, and was Assistant Vice President of Technology and Strategic Software Development for Munich Re America (formerly American Reinsurance Corporation) from 1993-1999. Mr. Abano has held various positions within the insurance and financial services industry, including with American International Group. Mr. Abano received an M.B.A. in Business Management and Technology from Regis University in 2003, and is a graduate of Brooklyn College, The City University of New York, where he received a B.S. in Computer and Information Science in 1986.

Gary Maier

 Mr. Gary S. Maier is Executive Vice President & Chief Underwriting Officer of Tower Group, Inc., a subsidiary of Tower Group International Ltd. Mr. Maier joined the Company in June 2005. Before joining the Company, Mr. Maier served from April 2002 to September 200 as Senior Vice President and Chief Underwriting Officer of OneBeacon Insurance Group in New York. In his role at OneBeacon Insurance Group, Mr. Maier managed the New York and New Jersey territories. From February 1987 to March 2002, Mr. Maier served in a variety of positions at Chubb Insurance Group, including most recently as Senior Vice President and Chief Underwriting Officer of Commercial Lines for Chubb Insurance Group’s Mid-Atlantic Region, where he managed a $400 million middle-market commercial portfolio in seven states with six field offices and a regional small commercial underwriting center. Mr. Maier graduated from the University of Mount Union with a B.S. in Mathematics and Computing.

Scott Melnik

 Mr. Scott T. Melnik is Senior Vice President - Claims of Tower Group, Inc., a subsidiary of Tower Group International Ltd. Mr. Melnik joined the Company in March 1999 as a Claims Manager, and during his over thirteen years with the Company, has held a number of management positions within the Claims Division, currently serving as Senior Vice President, Claims. Over the last 20 years in the insurance industry, Mr. Melnik has been involved in the technical claim handling and management of various types of property and casualty insurance claims, both personal and commercial lines. Prior to joining the Company, Mr. Melnik held management positions in the Risk Management division of CNA Insurance Companies. From 1991 to 1994, he held positions at the self-insured and reciprocal management firm Wright Risk Management.

Christian Pechmann

 Mr. Christian K. Pechmann is Senior Vice President - Marketing of Tower Group, Inc., a subsidiary of Tower Group International Ltd. Mr. Pechmann joined the Company in September 2003. Before that, Mr. Pechmann was employed in various profit center and underwriting management roles at Kemper Insurance Companies. His last position with that company was as Northeast Region President, responsible for the regional branch offices. A 1971 graduate of Hartwick College, Mr. Pechmann received a B.A. in English.

Laurie Ranegar

 Ms. Laurie A. Ranegar is Senior Vice President - Operations of Tower Group, Inc., a subsidiary of Tower Group International Ltd. She has 28 years of insurance industry experience with experience in off-shoring back office processes. Prior to joining the Company, she was Regional Operations Director of the Northeast for Kemper Insurance. Before joining Kemper, Ms. Ranegar held management positions at Highlands Insurance Group, Inc. from 1996 until 2002, where she held the positions of Vice President, Claim Field Operations, and Vice President, Underwriting and Operations, responsible for a commercial small business service center. She began her insurance career with Aetna Life and Casualty and is a graduate of the University of Pittsburgh with a B.A. in Economics.

Catherine Wragg

 Ms. Catherine M. Wragg is Senior Vice President - Human Resources & Administration of Tower Group, Inc., a subsidiary of Tower Group International Ltd. Ms. Wragg joined the Company in December 1995. She was hired to manage the human resource and administration functions. Ms. Wragg is currently responsible for all aspects of employee relations, recruiting, benefits, compensation, real estate, general office administration and related expenses. She was promoted to Managing Vice President in January 2008 and to Senior Vice President in May 2011. Before joining the Company, Ms. Wragg was responsible for the oversight of the payroll and benefits function with the firm Bachner, Tally, Polevoy and Misher LLP from 1993 through 1995. Ms. Wragg studied English at Northern Arizona University.

Charles Bryan

 Mr. Charles A. Bryan, C.P.A., F.C.A.S., C.P.C.U. is Independent Director of Tower Group International Ltd. He has been the President of CAB Consulting, LLC, an insurance consulting firm that has provided general management, merger and acquisition, actuarial and accounting services, since 2001. From 1998 to 2000, Mr. Bryan served as Senior Vice President and Chief Actuary for Nationwide Insurance Group. He has been a partner at Ernst & Young LLP, Chief Executive Officer of Direct Response Corporation and a Senior Vice President of USAA. Mr. Bryan is a Fellow of the Casualty Actuarial Society, a Certified Public Accountant, and a Chartered Property and Casualty Underwriter. Mr. Bryan also serves on the Board of Directors of Safe Auto, Medical Mutual of Ohio and Munich Re America (statutory company only) and its U.S. affiliates (statutory companies only). Mr. Bryan received an M.B.A. in General Management from Golden Gate University in 1976, an M.S. in Mathematics from Purdue University in 1969 and a B.S. in Mathematics from John Carroll University in 1968.

William Fox

 Mr. William W. Fox, Jr. is Independent Director of Tower Group International Ltd. He has over 40 years experience in the insurance and reinsurance industry. Mr. Fox was employed by Balis & Co., Inc. and its successor, the Guy Carpenter reinsurance brokerage division of Marsh & McLennan Companies, from 1962 through 1988, and again from 1992 through 1999. Mr. Fox had a number of positions at Balis & Co., Inc., and Guy Carpenter, including President of Balis from 1985 through 1988 and again from 1992 through 1999. Mr. Fox also served as a member of Guy Carpenter’s Executive Committee and Board of Directors, and as a Managing Director of J&H, Marsh & McLennan. Between 1992 and 1999, Mr. Fox was also the Chief Executive Officer of Excess Reinsurance Company. In 1988, Mr. Fox founded PW Reinsurance Management Company (“PW Group”), as a joint venture with Providence Washington Insurance Company (“Providence”) to underwrite reinsurance on behalf of Providence. Mr. Fox was a Senior Vice President of Providence from 1988 to 1989 and was responsible for selecting and overseeing reinsurance intermediaries. In 1989, the Baloise Insurance Group acquired Providence and appointed Mr. Fox President of the PW Group. Mr. Fox has served on several insurance-related boards of directors and is currently the Chairman of the Board of MII Management Group, the Attorney-in-Fact for MutualAid Exchange. Mr. Fox is a member of the CPCU Society and holds a Pennsylvania Property and Casualty License.

William Robbie

 Mr. William A. Robbie, C.P.A., is Independent Director of Tower Group International Ltd. Prior to joining the Company’s Board of Directors, he served as a member of CastlePoint’s Board of Directors and chairman of its Audit Committee from January 2006 until February 2009. From 2004 through 2009, he provided financial and corporate governance advisory services to the insurance industry through his own consulting firm. Mr. Robbie was Chief Financial Officer of Platinum Underwriters Reinsurance Ltd., a property and casualty reinsurance company in Bermuda, from 2002 to 2004 with responsibility for that company’s finance, claims and IT functions. He was the lead financial team member in the initial public offering of Platinum Underwriters Reinsurance Ltd., which became a separate public company from St. Paul Reinsurance, Inc. where he held the same position from August 2002 to November 2002. From 1997 to 2002, Mr. Robbie held various positions at XL Capital Ltd., a Bermuda-based insurance, reinsurance and financial risk company, and its subsidiaries, including Executive Vice President of Global Services, Senior Vice President and Corporate Treasurer, and Chief Financial and Administrative Officer of XL Re, Ltd., with responsibility for that company’s finance, claims, IT, human resources, business processing and administration functions. From 2005 to 2008, Mr. Robbie was a director and chairman of the Audit Committee of American Safety Insurance Company, Ltd. Mr. Robbie is a Certified Public Accountant. Mr. Robbie received his B.A. from St. Michael’s College and his Master of Accounting and M.B.A. from Northeastern University.

Steven Schuster

 Mr. Steven W. Schuster is Independent Director of Tower Group International Ltd. Mr. Schuster has been engaged in the practice of corporate law for over 30 years and is co-chair of McLaughlin & Stern LLP’s corporate and securities department, where he has been a partner since 1995. Mr. Schuster received his B.A. from Harvard University in 1976 and his J.D. from New York University in 1980.

Robert Smith

 Mr. Robert S. Smith is Independent Director of Tower Group International Ltd. Prior to joining Tower’s Board of Directors, Mr. Smith served as a member of CastlePoint’s Board of Directors from January 2006 until February 2009. Mr. Smith is currently a principal of Sherier Capital LLC, a business advisory firm that he founded in 2005, and a Managing Director of National Capital Merchant Banking, LLC, an investment firm that he joined in April 2008. He was previously Chief Operating Officer (from December 1999 to April 2004) and Executive Vice-President (from April 2004 to August 2004) of Friedman, Billings, Ramsey Group, Inc., where he was instrumental in, among other things, growing Friedman, Billings, Ramsey Group, Inc. from a privately-held securities boutique to a nationally recognized investment bank, helping accomplish its 1997 initial public offering, the creation of an affiliated public company, FBR Asset Investment Corporation, and the merger of the two companies in 2003. Before joining Friedman, Billings, Ramsey Group, Inc. as its General Counsel in 1997, Mr. Smith was an attorney with the law firm of McGuireWoods LLP from 1986 to 1996. Mr. Smith currently serves on the Steering Committee of the Washington Performing Arts Society Legacy Society (“WPAS”) and as a member of the WPAS Pension Committee. He is also a director of Precise Systems, Inc., an employee-owned company serving federal Department of Defense customers. Mr. Smith received his LL.B. and Dip L.P. (graduate Diploma in Legal Practice) from Edinburgh University, and his LL.M. from the University of Virginia.

Jan Van Gorder

 Mr. Jan R. Van Gorder is Independent Director of Tower Group International Ltd. Prior to joining the Company’s Board of Directors, he served as a member of CastlePoint’s Board of Directors from March 2007 until February 2009. Mr. Van Gorder was employed by Erie Insurance Group from November 1981 through December 2006. He held a variety of positions at that company, including Acting Chief Executive Officer from January 2002 to May 2002 and his most recent position as Senior Executive Vice-President, Secretary and General Counsel from December 1990 through December 2006. He served as a consultant and acting Secretary and General Counsel at Erie Insurance Group during the period January 1, 2007 through May 12, 2007. Mr. Van Gorder served as a member of the board of directors of Erie Indemnity Company, Erie, Pennsylvania, from 1990 to 2004. Mr. Van Gorder has also served as a Director and Chairman of the Insurance Federation of Pennsylvania. Mr. Van Gorder received a B.A. in International Relations from the University of Pennsylvania in 1970 and a J.D. from Temple University School of Law in 1975.

Austin Young

 Mr. Austin P. Young III, CPA, is Independent Director of Tower Group International Ltd. Previously, he served as Senior Vice President, Chief Financial Officer and Treasurer of CellStar Corporation from 1999 to December 2001, when he retired. Before joining CellStar Corporation, he served as Executive Vice President — Finance and Administration of Metamor Worldwide, Inc. from 1996 to 1999. Mr. Young also held the position of Senior Vice President and Chief Financial Officer of American General Corporation for over eight years. He was a partner in the Houston and New York offices of KPMG Peat Marwick where his career spanned 22 years before joining American General Corporation. He holds an accounting degree from the University of Texas and is also a member of the Houston, Texas, and New York State Chapters of Certified Public Accountants, the American Institute of Certified Public Accountants and Financial Executives International.

Insider Trading

Name Shares Traded Price

LEE MICHAEL H

 45,000 $17.69

LEE MICHAEL H

 12,000 $17.49

DOVE WILLIAM F

 12,121 $19.79

LEE MICHAEL H

 3,214,652 $0.00

WRAGG CATHERINE M

 3,011 $19.79

FOX WILLIAM W JR

 13,822 $0.00

WRAGG CATHERINE M

 13,919 $0.00

LEE MICHAEL H

 83,700 $0.00

LEE MICHAEL H

 94,832 $0.00

OROL ELLIOT S

 4,712 $19.79

YOUNG AUSTIN P III

 13,918 $0.00

RANEGAR LAURIE A

 15,327 $0.00

MELNIK SCOTT T

 3,004 $19.79

HITSELBERGER WILLIAM E

 9,610 $19.79

YOUNG AUSTIN P III

 4,682 $0.00

RANEGAR LAURIE A

 2,999 $19.79

ABANO SALVATORE VINCENT

 3,488 $19.79

HITSELBERGER WILLIAM E

 40,801 $0.00

DOVE WILLIAM F

 27,687 $0.00

LEE MICHAEL H

 59,221 $19.79

SMITH ROBERT S

 12,341 $0.00

ROBBIE WILLIAM ALEXANDER

 15,731 $0.00

BRYAN CHARLES A

 22,204 $0.00

LEE MICHAEL H

 3,642,200 $0.00

SCHUSTER STEVEN W

 11,703 $0.00
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