Tower calls time on insuring commercial farms

(Image: Getty)

Mon, 20 Nov 2023

Tower won’t offer insurance to commercial farms from February next year, referring rural customers to Aon New Zealand instead. The NZ-listed general insurer collected about $9 million of gross written premiums from commercial rural customers yearly but wants to focus its policies on direct personal and small business lines insurance. Tower will report its results for the 12 months through September on Thursday and has previously said it would report a 17% increase in gross written premiums to $526m. Chief executive Blair Turnbul...

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