Tower shareholders reassured on digital strategy, EQC payments

By Victoria Young | Fri, 14 Feb 2020


Tower’s shareholders had plenty of questions at today’s annual meeting, especially about its digital expansion and how it is dealing with wash-up money from EQC. Close to 100 shareholders attended the annual meeting where company executives stressed how much of a turnaround “journey” Tower had been on. The general insurer reported net profit of $16.6 million in the 12 months ended Sept. 30, turning around a loss of $6.8 million a year earlier. Its shares nudged up almost 4 percent in the past year. Ahead of Friday’s meeting, the...