Tower Limited has provided an update on the significant weather event that affected Auckland and parts of the upper North Island in late January, with 3,600 customers having lodged 4,810 policy claims.
Tower CEO, Blair Turnbull, has announced the company remains financially strong and is confident the event will trigger its reinsurance cover, with an excess of $11.875m.
Tower CFO Paul Johnston added they may purchase reinstatement cover to ensure full levels of catastrophe protection.
FY23 guidance is unchanged.
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