Thanks for clarifying that so well. Will check the actual statements next time instead of their presso’s which show tax. Cheers
Printable View
I think they bought them so they can transfer the customers to new policies on the new system and turn off their old IT systems. Which is where the big cost savings are. But not without risk.
Note also, bond yields are rising, so Tower's investment revenue will be too for the first time in a long time.
Insider buying continues... CEO has bought another 95,000 or so on market.
https://www.nzx.com/announcements/368492
maybe a takeover around the corner?
https://www.stuff.co.nz/national/300...rs-gns-advises
Another natural disaster hit for the insurance sector?
I wouldn't think so.
Now that the EQC has agreed to let private insurers manage the whole of any earthquake related claims, the insurance companies will presumably make a margin on the claims they process for the EQC. So any mild/moderate earthquakes that result in individual property damages below $150k will actually benefit insurance company bottom lines