Tiger Brokers

Tower Completes Fiscal 2027 Reinsurance Program Renewal

MT Newswires Live
Sep 21

Tower (NZE:TWR, ASX:TWR) completed the renewal of its reinsurance program for the financial year ending Sept. 30, 2027, according to a Monday filing with the New Zealand and Australian bourses.

The fiscal 2027 reinsurance program includes an increased catastrophe upper limit to NZ$970 million from NZ$915 million in fiscal 2026, an improved structure for the third catastrophe limit, supporting efficiency while increasing cover to NZ$100 million from NZ$85 million, and unchanged catastrophe event excesses at NZ$20 million, the filing said.

The company expects its fiscal 2027 reinsurance premium expense to represent 9.5% of gross written premium, down from nearly 11% in fiscal 2026, per the filing.

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