New Zealand insurer Tower will join two NZX 50 S&P Dow Jones indices.

It will be added to the NZX 50 Portfolio and MidCap indices before trading opens tomorrow. 

Chair Michael Stiassny says the company’s inclusion is “a positive milestone and proud day” and “symbolic of the significant work undertaken over many years to successfully reposition Tower”. 

The NZX 50 is an index of the 50 largest stocks by market capitalisation. Tower’s addition comes as Arvida Group exits the indices because it is being acquired.