November 20, 2009 (FinancialWire) — Tower Group, Inc. (“Tower”; NASDAQ: TWGP) said that William E. Hitselberger will join Tower on December 8, 2009 as senior vice president and will become chief financial officer effective March 15, 2010.

He will succeed Francis M. Colalucci, who will retire from his position as chief financial officer effective March 15, 2010 and from Tower’s board when his term expires on May 12, 2010.

Hitselberger has served as chief financial officer of PMA Capital since June 2002. Prior to that, he served as vice president and chief financial officer of the PMA Insurance Group from 1998 to 2002 and as vice president of the PMA Insurance Group from 1996 to 1998.

New York-based Tower Group offers diversified property and casualty insurance products and services through its operating subsidiaries. Its insurance company subsidiaries offer insurance products to individuals and small to medium-sized businesses through its network of retail and wholesale agents and specialty business through program underwriting agents.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.