Tower obtains FY25 reinsurance cover

(Image: Getty)

Mon, 23 Sep 2024

Tower estimates it will pay 11.7% of total income for reinsurance cover in the 2025 financial year, down from 13.9% in FY24. “Tower’s focus on risk-based pricing combined with our dynamic rating ability helped us secure favourable terms for our FY25 reinsurance,” CFO Paul Johnston said.“We’ve further strengthened relationships with global reinsurers, with several agreeing to new multi-year arrangements, which provides greater long-term certainty of reinsurance costs and catastrophe excesses.”Under the 20...

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