Tower announces ‘prudent’ strategic review

Tower chair Michael Stiassny. (Image: Supplied)

Mon, 04 Dec 2023

Insurer Tower is strategically reviewing its ownership structure to boost its value for shareholders and “optimise its capital structure”.The review is being supported by giant shareholder Bain Capital, which has a 20% stake in the insurer, and Tower has also engaged Goldman Sachs New Zealand as financial adviser to assist with the review.Chair Michael Stiassny told the market on Monday that Tower was committed to delivering long-term value to its shareholders, and the insurer believed that a “thoroug...

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