Tower Insurance says average house insurance premiums have fallen due to risk-based pricing

Tower chief executive Paul Johnston was previously the insurer's chief financial officer. (Image: Photosport/supplied)

Thu, 27 Nov 2025

Insurer Tower says more than 90% of its new house policies are now low or very low for flood risk.The company's reported net profit after tax for the year to Sept 30 rose $9.4 million year-on-year to $83.7m, it said on Thursday.Tower has been introducing risk-based pricing and extended it to include sea surges and landslides during the year.Tower said its gross written premiums (GWP) for home insurance grew 10% while home insurance policies rose 11% year-on-year.Average house insurance premiums reduced due to the higher proportion of lower-...

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