About TOWER

TOWER commenced business in New Zealand in 1869 as a government department selling life insurance policies and pensions.  It has grown and transformed over the past 139 years and its business today is mainly focused on selected niches in the risk insurance and wealth management markets.

TOWER Limited currently comprises three businesses:

1. General Insurance which provides home, contents, motor vehicle and travel insurance for the retail individual market in New Zealand and commercial insurance in the Pacific Islands.
2. Health & Life which provides health and life insurance products for the retail individual and groups markets.
3. Investments which operates in wholesale and retail funds management and individual and group superannuation. TOWER is also a default KiwiSaver provider.

TOWER's key strengths include:

• Brand - the 'TOWER' brand has good levels of consumer awareness
• Business to business alliances and distribution relationships based around a partnership model
• Pacific Islands general insurance business which provides underwriting and earnings diversification
• Scale in health insurance and group life markets
• Broad product and distribution breath with general insurance distributed both direct and through alliance partners, health and life insurance products distributed primarily through intermediaries, investment products and services, both wholesale and retail, distributed primarily through intermediaries
• Investment Management capabilities.  TOWER was awarded the FundSource Fund Manager of the Year title in 2007 making this its third win in four years.