Tower Group International, Ltd. (NASDAQ:TWGP) Holds Position After Results


Dallas, Texas 02/25/2014 (FINANCIALSTRENDS) – Tower Group International, Ltd.(NASDAQ:TWGP) holds a market cap of $158.29 million. The stock prices of this company are currently in the $2.73 range and operate across the day between $2.72 and $2.77. The company also has a 52 week high of $22.30 and 52 week low of $2.40. The stock prices opened the previous trading session at $2.76. However, through the day the change has been in the region of -1.09%.

Tower Group International, Ltd.(NASDAQ:TWGP) has also seen a change in the trading volumes as well. Where the volume trade is in the region of 501, 984, the changes was 1.64 million shares. The company also recorded EPS of -17.14. The beta is 0.78.

Merger and results

Tower Group International, Ltd.(NASDAQ:TWGP) had on Feb 11, 2014 announced its third quarter results. These are results which were earned after the TWGP merged with Canopius Holdings Bermuda Limited. The new company was however named as Tower Group International Ltd and will be the parent company.

Tower Group International, Ltd.(NASDAQ:TWGP) as a new entity will reflect financial results as was before the merger and has since absorbed such accounts as the reverse acquisition and the recapitalization.

Tower Group International, Ltd.(NASDAQ:TWGP) also in the early part of January announced he merged with ACP Re, Ltd. This company is an insurance company which is quartered in Bermuda and all controlling shares are with ACP Re.  The latter is a trust which was formed by AmTrust Financial Services as well as the National General Holdings Corporation. A third company was also part of the trust- Maiden Holdings Ltd. Now, following the announcement of the Merger Agreement, the controlling power of the trust will now rest with Tower Group International. The spate of activities on the structural side for TWGP has also meant new Chief Executive as well as New Chairman.