Tower to cut product lines in bid to cut costs

Wed, 10 Feb 2016

By Paul McBeth Feb. 11 (BusinessDesk) - Tower, which posted an annual loss last year on ballooning costs from the Canterbury earthquakes, plans to whittle down the number of products it offers customers and clamp down on costs in a bid to sharpen up the business. Chief executive Richard Harding told shareholders in Auckland that he has conducted a thorough review of the business since starting in the role five months ago, and has kicked off a number of projects to lift the general insurer's performance. Two key actions he sees as improvi...

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