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Tower Limited

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This is a basic profile of an NZX50 listed company. It is not investment advice. We recommend you contact a qualified adviser if you need more information.

Tower Limited

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NZX code: TWR
Short name: Tower
Legal name: Tower Limited
Industry sector: Property and Casualty Insurance
NZX50 rank: 41 of 50
Head office address: 136 Fanshaw Street Level 5, Auckland, 1142
Chairman: Michael Stiassny
Chief executive: Blair Turnbull
Financial year ended: September
Locations: New Zealand, Fiji, Cook Islands, American Samoa, Samoa, Tonga
Auditor: PricewaterhouseCoopers, Auckland
Bankers: N/A

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Financial statement history
 

A. Recent trading and performance summary:

  Total
revenue
NPAT Earnings
per share
fye March mln mln cents
2018 $323 ($7) (2.1)
2019 $345 $17 4.7
2020 $377 $11 2.6
2021 $405 $19 4.4
2022 $437 $19 4.4
2023 $511 ($1) 0.6

 

 

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B. Recent financial position summary:

  Total
assets
Total
Liabilities
Equity
ratio
fye March mln mln %
2018 $686 $411 40
2019 $703 $411 42
2020 $740 $398 46
2021 $802 $453 44
2022 $804 $487 39
2023 $946 $646 32

 

 

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C. Recent cash flows and positions:

  Cash
inflows
Cash
outflows
Cash and equiv. 
at year end
fye March mln mln mln
2018 $45 $27 $102
2019 $39 $74 $67
2020 $42 $22 $80
2021 $99 $62 $116
2022 $60 $87 $85
2023 $10 $35 $64

 

 

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D. Recent key ratio analysis:

  Earnings
per share
Price:
Earnings
ratio
NTA
/share
Dividend
yield
fye March cents annual avg dollars annual avg %
2024 10 12.4 $0.62 2.2

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Description of trading activities 
Tower Limited provides general insurance products both in New Zealand and the Pacific Islands.There are many types of insurance products provided by Tower including car, house, contents, contract works, and renovation cover. For a full run down of insurance products follow here: TWR insurance products. Tower was first founded in 1869.

 

Chairman profile
Michael Stiassny holds both a Law and Commerce degree from the University of Auckland, he is also a Chartered fellow and past president of the institute of Directors. Stiassny has an extensive career in corporate governance currently the Chairman of 2 Cheap Cars Limited and a Director for Momentum Life Insurance limited, Tegal Group Holdings, and New Talisman Gold Mines Ltd. He is also a part of the Founders Advisory where he dedicated time into start ups and entrepreneurship opportunities. 
 

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CEO profile
Blair Tunrbull has spent over 20 years' in the financial services industry being based in New Zealand, Asia Pacific, and United Kingdom. In his most recent role, Turnbull was the Managing Director for UK Digital, UK and International for Aviva Group, and before that was the Executive General Manager for Wealth and Insurance at ASB Bank. 

 


Links

Company website: Tower.co.nz
Investor information: Tower Investor Centre
NZX listing: TWR NZX
Annual reports: TWR Financial reports

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