Tower reports solid 1H net profit, upbeat about FY

Tower reports solid 1H net profit, upbeat about FY
Tower CEO Blair Turnbull. (Image: Tower)
Rebecca Howard
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...

More Markets

Vector agrees to sell LPG assets for $150m
Markets

Vector agrees to sell LPG assets for $150m

The deal is subject to regulatory approvals and commercial conditions.

Rebecca Howard 26 Jul 2024
ASX: Australian shares slide to a two-week low as tech drags
Markets

ASX: Australian shares slide to a two-week low as tech drags

Every sector of the Australian share market has lost ground.

AAP 26 Jul 2024
NZ sharemarket down 0.38%
Markets Market close

NZ sharemarket down 0.38%

The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.

Graham Skellern 26 Jul 2024
Forsyth Barr initiates full Turners coverage
Markets

Forsyth Barr initiates full Turners coverage

Forsyth Barr says a premium valuation is now warranted. 

Rebecca Howard 26 Jul 2024