Tower delivers robust first-half performance

  • May 29, 2020 NZST
  • Team Kalkine
Tower delivers robust first-half performance

Kiwi insurer, Tower Limited (NZX:TWR) has announced half-year profit of NZD 14.9 million after tax which is an NZD 3 million improvement on the pcp.

Tower Chief Executive, Richard Harding said, the company's strategy has focused on becoming a digital challenger brand by challenging outdated industry norms and taking on the big incumbents.

The company has updated its FY20 guidance of underlying NPAT to NZD 25 million - NZD 28 million taking into account the Timaru hailstorm, subdued growth, tropical cyclone Harold, and lower expenses.

 


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