Tower to return $NZ70m capital

Guinness Peat Group-owned insurer will return cash to shareholders after sale.

Tower (TWR), the general insurer that is 34% owned by Guinness Peat Group, says it will return an initial $NZ70 million ($A62.06 million) of capital to shareholders from the sale of its life insurance business.

The insurer sold its life business to Fidelity Life Assurance for about $NZ145m in cash and liabilities in May.

{{content.question}}

SMS Code Sent…

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

Related Articles