Company: Tower Page 2 / 2
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- July 20 2023
Tower warns of potential loss in FY 2023 due to challenging claims environment
The Kiwi carrier’s large events allowance of NZ$50m has depleted to NZ$10.5m for the remainder of the year to September 30, 2023.
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- July 4 2023
Tower continues Pacific restructuring with sale of Solomon Islands unit
Trans Pacific Assurance, which acquired the business, will retain the Kiwi carrier's staff and aims to complete the deal in 2023.
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- May 26 2023
Tower falls to US$3m first half loss as cat costs bite, COR at 105.3%
The Kiwi carrier settles 30% claims for Auckland floods and cyclone Gabrielle with large event losses rising 90% year-on-year to US$20m.
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