Tower takes up to $7 million hit from Ōhau fire

Mon, 12 Oct 2020

Insurer Tower said today the financial impact from the Lake Ōhau fire on its 2021 financials could be between $5 million to $7 million before tax.The NZX-listed insurer said it had received five total loss claims and four partial damage claims as a result of the fire.The fire destroyed 48 buildings in the Lake Ōhau village in Mackenzie Country and burnt through about 5,000 hectares.The fire will not impact its 2020 results, expected on Nov. 25 for the year ended Sept. 30, it said.Tower chief executive Blair Turnbull said the insurer had a team...

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