Tower first-half loss widens
Tower first-half loss widens as insurer takes $19.6 million charge for IT system with 'limitations'.
Tower first-half loss widens as insurer takes $19.6 million charge for IT system with 'limitations'.
Tower, the general insurer, posted an annual loss as it prepares for more expensive claims from the Canterbury spate of earthquakes
Tower shares rose today to a month-high after the insurer hiked its interim dividend and confirmed an on-market share buyback.
Tower may record small net loss in first half on quake adjustment as underlying earnings grow.
General insurer Tower reported a 32pc drop in annual profit and signalled plans for another share buyback.
Outgoing Tower chief executive Rob Flannagan has down-played suggestions it is a takeover target.