Tower reports solid 1H net profit, upbeat about FY

Tower CEO Blair Turnbull. (Image: Tower)

Tue, 28 May 2024

Tower reported a first-half net profit, marking a strong turnaround from the same period a year earlier that was hit by catastrophes. “Tower has delivered a strong result this half, driven by improved claims, digitisation and operational performance and positive customer experiences,” Tower's chief executive, Blair Turnbull, said. The insurer reported a net profit of $36 million in the six months to March 31, up from a loss of $5.1m in the prior year. The underlying profit after tax was $36.6m versus a...

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