Yeah worked out about half.
Got two other quotes...both more than Tower. I guess it is what it is, yet another cost that's risen heaps more than the theoretical rate of inflation of 5.9%.
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If you owned TWR shares you would of got a dividend today. You have already proved their quote was competitive.
Buy enough Shares to cover the annual premium and relax. If you crash your car enough you could increase the head share price as well…win/ win LOL
@davexl
Tower has received notice from the IRD that no part of the capital return is in lieu of the payment of a dividend. As such the Scheme is now conditional on shareholder approval at the ASM today and final orders sanctioning the scheme from the Court. If these final orders are received in late February 2022, payment of the capital return would be made in mid-March 2022, assuming the capital return is approved by shareholders at the ASM today. Exact dates will, however, be confirmed closer to the time of payment.
https://www.rnz.co.nz/news/national/...-up-west-coast
Another 1 in 50 year event?
nice update , rising rates should improve there investment income figure from the measly figure before going forward.
one of the few i still own on the nzx
bit undervalued looking ahead in my opinion following the cap return and future cap returns and rising divs
The indicative record date to be eligible for the return of capital is Friday 4 March 2022. If the final court orders have not been made by 25 February the record date will be five business days after the date on which the final orders of the High Court sanctioning the scheme are made. Now that the IRD determination that the capital return will not be treated as a dividend has been received I think it very unlikely High Court sanction will not occur on 25 February.
The indicative payment date to shareholders is Friday 18 March 2022.
I have wondered if the Regulator could amend its stance and oppose the granting of the court orders pending greater clarity on Tonga costs, which must be highly uncertain just now. It's not the excess of $11.25m that would be the worry but the potential for the aggregate of claims to exceed the reinsurance cap. That is what caught Tower and other insurers out in the ChCh events and caused all the angst.