TOWER Limited - Company Profile
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TOWER Limited (Tower) is a non-life insurance company that offers general insurance products to individuals and corporate customers. The company offers insurance products for boats, business assets, business interruption, business liability, commercial vehicle, caravan, house, contents, motorbike, and travel. It also offers car insurance products, which include comprehensive insurance, third-party fire and theft insurance, third-party insurance, and commercial vehicle insurance. The company sells its products under the brand name, TOWER in New Zealand and the Pacific Islands. The company primarily operates through its subsidiary, TOWER Insurance Ltd. Tower is headquartered in Auckland, New Zealand.
Headquarters
New Zealand
Address
Po Box 90347, Auckland, 1142
Website
www.tower.co.nz
Telephone
64 9 3692000
No of Employees
850
Industry
Financial Services
Ticker Symbol & Exchange
TWR (NZE)
Revenue (2022)
$255.4M
15.6%
(2022 vs 2021)
EPS
XYZ
Net Income (2022)
XYZ
-106.5%
(2022 vs 2021)
Market Cap*
$184.4M
Net Profit Margin (2022)
XYZ
-105.6%
(2022 vs 2021)
* As of and is in US$
TOWER Limited premium industry data and analytics
Products and Services
| Products | Services | Brands |
|---|---|---|
| Business Insurance: | Claims | MY TOWER |
| Business Interruption Insurance | ||
| Business Liability Insurance | ||
| XYZ | ||
| XYZ | ||
| XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2024 | Contracts/Agreements | In January, the company announced the sale of its Vanuatu subsidiary to Capital Insurance Group of Papua New Guinea, |
| 2023 | Contracts/Agreements | In November, the company entered into an agreement with global Insurtech CelsiusPro Group to improve the IT platform for its storm response coverage. |
| 2022 | Contracts/Agreements | In November, the company entered into a partnership with MTF Finance to make insurance and purchase process easier. |
Competitor Comparison
| Key Parameters | TOWER Limited | AA Insurance Limited | Turners Automotive Group Ltd | AMI Insurance Ltd | Farmers Mutual Group |
|---|---|---|---|---|---|
| Headquarters | New Zealand | New Zealand | New Zealand | New Zealand | New Zealand |
| City | Auckland | Auckland | Auckland | Christchurch | Palmerston North |
| State/Province | Auckland | Auckland | Auckland | Southland | Manawatu Whanganui |
| No. of Employees | 850 | - | 620 | - | - |
| Entity Type | Public | Private | Public | Private | Private |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Blair Turnbull | Chief Executive Officer | Senior Management | - | - |
| Paul Johnston | Chief Financial Officer | Senior Management | 2021 | - |
| Andrew Hambleton | Chief Administrative Officer | Senior Management | - | - |
| Sharyn Reichstein | Chief Risk Officer | Senior Management | 2023 | - |
| Ron Mudaliar | Chief Underwriting Officer | Senior Management | 2019 | - |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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