Viewing entries tagged with 'Tower'

TOWER takeover by Canada's Fairfax

10 February 2017 Tower board, major shareholders back $197 million takeover bid from Canada's Fairfax Financial Holdings touted the 'Berkshire Hathaway of Canada'. Tower's share price rises as trading resume.  More>

Government won't bail TOWER

7 December 2016

Government confirms it has not been approached by Tower as the insurer seeks capital to ring-fence its quake-related business; Forsyth Barr expects Tower to sell 'RunOff Co'. More>

Tower confident following quakes

16 November 2016

Tower confident it has enough reinsurance so the North Canterbury quakes won't set it back more than $7.2m; Share price falls as its investors wary 2010/11 quake hangover remains. More>

Tower upsets a reinsurer by allegedly catching it 'off-guard' in its haste to secure desperately needed cash

15 September 2016

Tower risks losing a chunk of the $50 million of emergency reinsurance it’s counting on to settle its outstanding Canterbury earthquake claims. More> 

Tower in dangerously hot water

9 September 2016

Tower braces for $16.2m drop in net profit as Deloitte tells it to hike its Canterbury quake provisions due to it spending more on litigation and over-cap EQC claims; Share price hits 12-year low.  More>