Tower Group, Inc. (TWGP)

[Joe Stocks]

Writing off intangibles are non-cash entries. Increasing reserves will show a drop in profits in the income statement, but the cash just shifts on the balance sheet.

TWCP said this; "Tower’s U.S. insurance subsidiaries continue to maintain risk based capital levels in excess of those required by their respective domiciliary states."

I agree with the other poster. TWGP is still writing business, selling at a significant discount to book, and oversold.