Exhibit 99.1

                 Tower Group, Inc. Announces Quarterly Dividend

     NEW YORK--(BUSINESS WIRE)--Nov. 24, 2004--Tower Group, Inc. (NASDAQ: TWGP)
announced today that the company's Board of Directors has approved a quarterly
dividend of $ 0.025 per share payable December 23, 2004 to stockholders of
record as of December 15, 2004.

     About Tower Group, Inc.

     In operation since 1990, Tower Group Inc. is headquartered in New York City
and is the holding company for its two operating subsidiaries, Tower Insurance
Company of New York, ("TICNY") and Tower Risk Management ("TRM"). TICNY, A.M.
Best rated A- (Excellent), develops and delivers specialized commercial lines
insurance products that provide property, liability, workers' compensation and
automobile insurance to select markets not well served by other carriers. It
also offers personal lines products that provide property and liability
insurance to homeowners throughout New York State. TRM, a non-risk bearing
insurance service company, offers managing general agency services to underwrite
risks, adjust claims and negotiate reinsurance terms on behalf of other
insurance companies. For more information visit Tower's website at
http://www.twrgrp.com/.

     CONTACT: Tower Group, Inc.
              Andrew Colannino, 212-655-2107
              acolannino@twrgrp.com