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Tower Limited ( (AU:TWR) ) has issued an announcement.
Tower Limited reported a strong first-quarter performance ahead of its annual shareholder meeting, highlighted by improvements in claims and management expense ratios, and growth in gross written premium (GWP). The company’s strategy of leveraging digital technology and data has resulted in a significant reduction in the business-as-usual claims ratio to 39% and a lower management expense ratio of 30%. Tower’s focus on risk selection and operational efficiencies has contributed to sustainable growth, with an 8,000-policy increase in its New Zealand business. Despite a large event in Dunedin, Tower remains on track with its strategic objectives, positioning itself as a leading insurer in its target markets.
More about Tower Limited
Tower Limited is a prominent insurer operating in New Zealand and the Pacific region, focusing on providing insurance solutions with an emphasis on digital technology and data-driven risk management. The company primarily serves the house and contents insurance markets, with a strategic goal to become a leading direct insurer in these regions.
YTD Price Performance: 9.66%
Average Trading Volume: 53,225
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$475.7M
For an in-depth examination of TWR stock, go to TipRanks’ Stock Analysis page.
