Tower to retain remaining NZ Life business after talks with potential buyers

Fri, 03 Jan 2014

Jan. 3 (BusinessDesk) – Tower, which sold the majority of its life insurance business to Fidelity Life Assurance in May, says it has decided to retain the remaining life assets after talks with potential buyers. The general insurer said it has ended talks with a number of interested parties and has decided not to sell Tower Life (NZ). It sold most of its life assets earlier this year for some $145 million in cash and liabilities. "Tower believes there are a number of opportunities to continue to improve the business performance of the retain...

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