- Release Date: 01/08/13 15:51
- Summary: ASSET: TWR: TOWER confirms settlement of life business
- Price Sensitive: No
- Download Document 1.3KB
TWR 01/08/2013 13:51 ASSET REL: 1351 HRS Tower Limited ASSET: TWR: TOWER confirms settlement of life business MEDIA STATEMENT 1 August 2013 For immediate release Market Information NZX Limited Level 2, NZX Centre 11 Cable Street Wellington NEW ZEALAND Company Announcements Office Australian Stock Exchange Limited Exchange Centre Level 6, 20 Bridge Street Sydney NSW 2000 AUSTRALIA TOWER confirms settlement of life business TOWER Limited has today confirmed the settlement of the sale of most of its life insurance business to Fidelity Life Assurance Company Limited. TOWER Chief Executive Officer David Hancock said TOWER will now concentrate on its future as a focused general insurer, delivering high quality general insurance products and services to customers in New Zealand and the Pacific Islands. As part of the licensing process under the Insurance (Prudential Supervision) Act 2010, TOWER remains in continuing discussions with the RBNZ regarding the proposed imposition of conditions to its insurance licences, including an increase to minimum solvency margins. TOWER will update on the outcome of these discussions when concluded. ENDS David Hancock Chief Executive Officer TOWER Limited ARBN 088 481 234 Incorporated in New Zealand End CA:00239207 For:TWR Type:ASSET Time:2013-08-01 13:51:58
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Ann: ASSET: TWR: TOWER confirms settlement of lif
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