‘Calm’ weather boosts Tower profit

Tower CEO Blair Turnbull has welcomed the recent reprieve from natural catastrophes but stressed the need for climate change adaptation. [Image: Supplied]

Daniel Dunkley

Tue, 28 May 2024

Tower Insurance has called for New Zealanders to accelerate climate change mitigation and adaptation measures despite “calm” weather boosting its profits in the first half of the year.The NZX-listed insurer’s chief executive Blair Turnbull expects the long-term severity and frequency of severe weather events to increase, but welcomed a reprieve from natural catastrophes in the six months to March 31.Tower posted an underlying net post-tax profit (NPAT) of $36.6 million, a significant turnaround from a $3.7m loss in the same pe...

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