Tower Group Appoints Song for Corporate Development

August 17, 2005

Tower Group Inc. has named Thomas Song as managing vice president of corporate development. He will report to Michael H. Lee, Tower Group Inc.’s president and chief executive officer.

Song’s primary responsibilities will be to manage the sourcing and execution of acquisitions and alliances, support corporate finance activities, and to lead key cross functional initiatives related to operations and technology.

Song has more than 12 years of insurance industry experience with a focus on mergers and acquisitions, corporate finance, business analysis, and technology alliances. He was vice president of mergers and acquisitions at Cochran, Caronia & Company, a financial advisory firm specializing in the insurance industry. He was an investment banker at Bear, Stearns & Co. Inc. in their insurance and capital markets groups. Additionally, he was the director of insurance and financial services verticals for a major publicly traded software company and led their market entry into these key industries.

Tower Group Inc., headquartered in New York City, offers property and casualty insurance products and services through its insurance company and insurance service subsidiaries. Its insurance company subsidiary, Tower Insurance Company of New York, is rated A- (Excellent) by A.M. Best Company.

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