Michael Stiassny
General insurer Tower concludes ownership review with no proposed changes on the chopping block and says the RBNZ has cut the insurer’s solvency margin from $15 million to $0
9th Sep 24, 11:55am
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General insurer Tower concludes ownership review with no proposed changes on the chopping block and says the RBNZ has cut the insurer’s solvency margin from $15 million to $0
Tower Insurance readies its next risk-based pricing tool as CEO says he loves being the insurance underdog competing with bigger Aussie-owned rivals
29th May 24, 5:00am
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Tower Insurance readies its next risk-based pricing tool as CEO says he loves being the insurance underdog competing with bigger Aussie-owned rivals
Tower’s CEO says insurer’s gross written premium up 21% in four months, expects full-year profit to be upper end of or exceed guidance of $22m to $27m
21st Feb 24, 11:27am
Tower’s CEO says insurer’s gross written premium up 21% in four months, expects full-year profit to be upper end of or exceed guidance of $22m to $27m
Tower hires Goldman Sachs as it kicks off review of its ownership structure
Gareth Vaughan says of all the recent criticisms of the RBNZ, the hardest one to understand is the charge that it shouldn't take an interest in climate change
2nd Aug 22, 2:48pm
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Gareth Vaughan says of all the recent criticisms of the RBNZ, the hardest one to understand is the charge that it shouldn't take an interest in climate change
A look at the 'broken' system that's seen the RBNZ force Tower to find more capital, as insurers continue to chase EQC for hundreds of millions of dollars 9 years after the Canterbury quakes
21st Nov 19, 1:13pm
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A look at the 'broken' system that's seen the RBNZ force Tower to find more capital, as insurers continue to chase EQC for hundreds of millions of dollars 9 years after the Canterbury quakes
NZTA's transport funding malaise raises the concerns of Auckland Mayor Phil Goff
17th Jun 19, 3:55pm
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NZTA's transport funding malaise raises the concerns of Auckland Mayor Phil Goff
Insurer Tower returns to profit as fewer storms and reduced exposure to risky places see it pay a low $45 in claims for every $100 received in premiums
22nd May 19, 6:50am
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Insurer Tower returns to profit as fewer storms and reduced exposure to risky places see it pay a low $45 in claims for every $100 received in premiums
NZTA resignations and restructuring responsible for delays in major public projects in Auckland, according to councillor
28th Mar 19, 7:00am
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NZTA resignations and restructuring responsible for delays in major public projects in Auckland, according to councillor
The NZ Super Fund remains committed to its proposal to build & operate Auckland’s light rail network with a Canadian partner, but the business case remains up in the air
25th Jan 19, 1:43pm
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The NZ Super Fund remains committed to its proposal to build & operate Auckland’s light rail network with a Canadian partner, but the business case remains up in the air
Jenée Tibshraeny looks at where Tower's at - three months after completing a capital raise and nearly a year after taking out a $30m bank loan to boost its solvency
5th Mar 18, 7:04am
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Jenée Tibshraeny looks at where Tower's at - three months after completing a capital raise and nearly a year after taking out a $30m bank loan to boost its solvency
Tower settles dispute with Peak Re; Agreement for it to receive half the reinsurance it was after will see its profit take a $15.2 million hit after tax
1st Mar 18, 7:18am
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Tower settles dispute with Peak Re; Agreement for it to receive half the reinsurance it was after will see its profit take a $15.2 million hit after tax
Tower supports Vero as it challenges the Commerce Commission's decision to prevent the insurers from merging; Tower to push on with plans to raise capital
23rd Aug 17, 9:14am
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Tower supports Vero as it challenges the Commerce Commission's decision to prevent the insurers from merging; Tower to push on with plans to raise capital
A.M. Best warns Tower's credit rating could be downgraded if it doesn't improve its capital position
17th Aug 17, 1:27pm
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A.M. Best warns Tower's credit rating could be downgraded if it doesn't improve its capital position
Commerce Commission prevents New Zealand's insurance duopoly from getting stronger by declining Vero's bid to buy Tower; Tower's share price tumbles
26th Jul 17, 8:26am
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Commerce Commission prevents New Zealand's insurance duopoly from getting stronger by declining Vero's bid to buy Tower; Tower's share price tumbles
Fairfax Financial Holdings leaves Aussie insurer to bid for an even larger share of the New Zealand insurance market
29th Jun 17, 3:37pm
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Fairfax Financial Holdings leaves Aussie insurer to bid for an even larger share of the New Zealand insurance market
Suncorp's Vero to buy all of Tower's shares for $1.40 each pending shareholder and regulatory approval; Canadian giant outbid in battle for struggling insurer
27th Jun 17, 3:42pm
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Suncorp's Vero to buy all of Tower's shares for $1.40 each pending shareholder and regulatory approval; Canadian giant outbid in battle for struggling insurer
Tower gets $30 million cash advance from BNZ as quake costs see it only $5 million away from breaching the RBNZ solvency requirements
24th May 17, 2:53pm
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Tower gets $30 million cash advance from BNZ as quake costs see it only $5 million away from breaching the RBNZ solvency requirements
Michael Stiassny says bidders eyeing a Tower takeover will need to pay at least $1.40 per share; Says the Board's considering a capital raising
30th Mar 17, 3:53pm
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Michael Stiassny says bidders eyeing a Tower takeover will need to pay at least $1.40 per share; Says the Board's considering a capital raising
New Zealand's second largest general insurer aims to increase its market share to 30%, offering to pay more than 'Canada's Berkshire Hathaway' to buy Tower
22nd Feb 17, 9:48am
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New Zealand's second largest general insurer aims to increase its market share to 30%, offering to pay more than 'Canada's Berkshire Hathaway' to buy Tower
Cameron Preston crunches the numbers to explore whether it is Tower or NZ's insurance system that is 'broken'
18th Feb 17, 7:30am
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Cameron Preston crunches the numbers to explore whether it is Tower or NZ's insurance system that is 'broken'
A.M. Best places Tower's credit rating under review pending its sale to Fairfax Financial Holdings; Says it will consider the extent of Fairfax’s 'financial support' to determine a rating
17th Feb 17, 1:58pm
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A.M. Best places Tower's credit rating under review pending its sale to Fairfax Financial Holdings; Says it will consider the extent of Fairfax’s 'financial support' to determine a rating
Tower Chairman says the company would have a higher sale price if the EQC system wasn't 'broken'; Government says the law has nothing to do with the risk the insurer takes on
13th Feb 17, 12:19pm
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Tower Chairman says the company would have a higher sale price if the EQC system wasn't 'broken'; Government says the law has nothing to do with the risk the insurer takes on
Tower board, major shareholders back $197 million takeover bid from Canada's Fairfax Financial Holdings; Tower's share price rises as trading resumes
9th Feb 17, 1:07pm
Tower board, major shareholders back $197 million takeover bid from Canada's Fairfax Financial Holdings; Tower's share price rises as trading resumes
Tower shares in trading halt ahead of 'announcement'; Reports the insurer has received a take-private proposal from Fairfax Financial Holdings
9th Feb 17, 11:26am
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Tower shares in trading halt ahead of 'announcement'; Reports the insurer has received a take-private proposal from Fairfax Financial Holdings