TWR - Tower Insurance.

[JeremyALD]

Insurance companies keep a lot of money floating in high grade bonds. It isn't anything special to TWR.

TWR's balance sheet is good right now but for different reasons. The low OCR will mean investment income will decrease but it's not a significant portion of total revenue. But at the moment any extrapolation of TWR's balance sheet is entirely dependent on how they've been impacted during this period. We can hope claim expenses were done and so forth but it's all assumptions. Long-term I do see good potential in TWR, but as with any insurance company this relies on no catastrophic events.

Thanks both, really appreciated

[aquaman]

Thanks both, really appreciated

With my involvement in another company our vehicle claims are down approx 80% and home claims down approx 50% over the shutdown period. I don't have any commercial info .
Premiums still coming in so presently in a good space but one weather event can change things.!

[Leemsip]

Half the profit from the Pacific islands anyway, so profit totally swings on the storm season up there

[macduffy]

There's currently pressure from some quarters for insurance companies to reduce premiums where risks are reduced, eg cars locked in garages or seldom used. Some companies have indicated that they are amenable to the idea. Is TWR one of these?

[tim23]

There's currently pressure from some quarters for insurance companies to reduce premiums where risks are reduced, eg cars locked in garages or seldom used. Some companies have indicated that they are amenable to the idea. Is TWR one of these?

As I Tower shareholder, hope they don't rebate premiums or any other company for that matter, while I'm not using my car much I have reduced costs anyway, besides Tower needs a break and I wouldn't mind a dividend!

[Sideshow Bob]

There's currently pressure from some quarters for insurance companies to reduce premiums where risks are reduced, eg cars locked in garages or seldom used. Some companies have indicated that they are amenable to the idea. Is TWR one of these?

In a similar situation, Southern Cross emailed yesterday and said that with the savings last month/support customers/blah blah, they are returning $50 million to customers (approx. 880,000 clients). So about $55 each.

They are supposedly "not for profit". (After my premiums having gone up 123% over 3 years, and never having claimed, I take a bit of a dim view of them....)

[nztx]

As I Tower shareholder, hope they don't rebate premiums or any other company for that matter, while I'm not using my car much I have reduced costs anyway, besides Tower needs a break and I wouldn't mind a dividend!

Likewise .. wouldn't mind a Div either after past Cap raise & stalling off investors

Any idea how far their Islands business does business ?

Do they have exposure to Fiji ?

[winner69]

Good on Tower not 'profiting' from the virus re car insurances

https://www.stuff.co.nz/business/121...-profit-pledge


Good for long term customer loyalty

[Independent Observer AUNZ]

Likewise .. wouldn't mind a Div either after past Cap raise & stalling off investors

Any idea how far their Islands business does business ?

Do they have exposure to Fiji ?

Tower are the largest personal property insurer in Fiji. Circa 25% market share.

[tim23]

Good on Tower not 'profiting' from the virus re car insurances

https://www.stuff.co.nz/business/121...-profit-pledge


Good for long term customer loyalty

As much as would like a dividend I think this is a smart play from a marketing/publicity perspective and highlights them being NZ owned so I'm pretty relaxed about it. The fact that they are doing it suggests things are in good shape for dividend anyway?