Tower NZ still going strong
Tower NZ’s financial strength ratings have been affirmed at A-, defying the trend as the country sits knee deep in a recession.
Ratings agency AM Best has affirmed Tower Insurance’s rating, saying it reflects the group’s “improving operating performance and stable risk-adjusted capitalisation.
The company’s general insurance division posted a 20% increase for the year at $NZ14.8 million ($12.23 million) compared with last year.
Tower’s health and life insurance division received its first ever rating, also A-.
Ratings agency AM Best has affirmed Tower Insurance’s rating, saying it reflects the group’s “improving operating performance and stable risk-adjusted capitalisation.
The company’s general insurance division posted a 20% increase for the year at $NZ14.8 million ($12.23 million) compared with last year.
Tower’s health and life insurance division received its first ever rating, also A-.