Slide 1: Annual Shareholder Meeting
Tower Limited Annual Shareholder Meeting Full Year Results to 30 September 2016 30 March 2017
Slide 2: Meeting agenda
Meeting agenda • Chairman’s address • CEO’s address and performance overview • Questions • Board resolutions • General business 2
Slide 3: Chairman's address
Chairman’s address Michael Stiassny Chairman
Slide 4: Current offers for Tower shares
Current offers for Tower shares Three options currently being considered, further update to be provided once increased certainty STRUCTURAL SEPARATION FAIRFAX SCHEME SUNCORP OFFER • Separation of Tower into 2 • Scheme Implementation • Conditional offer of $1.30 per entities agreement signed 9 Februa
Slide 5: CEO's address & performance overview
CEO’s address & performance overview Richard Harding Chief Executive Officer
Slide 6: Refocusing on the core
Refocusing on the core Focusing on our strategic imperatives has delivered a number of early wins Improvement in retention rates High Return to positive policy growth performance Launch of online capability customer Launch of partnership with Airpoints service culture Launch of customer ex
Slide 7: Financial performance
Financial performance Reported loss of $21.5m for the full year driven by IT impairments and further Canterbury provisions GROUP PROFIT SUMMARY (NZ$m) $ million FY 16 FY15 Movement $ Movement % • Reported loss reflects : Gross written premium 303.2 305.6 (2.3) (0.8%) $25.3m impact from movement Un
Slide 8: Continued uncertainty
Continued uncertainty Canterbury earthquake costs continue to escalate as a result of new overcap claims and increasing litigation 8
Slide 9: Trading update
Trading update The business is performing in line with expectation for the first few months of the FY17 year OPERATIONAL ACHIEVEMENTS CATASTROPHE UPDATE Key initiatives now live • Canterbury EQ situation remains complex Airpoints launched in January • Resolution of Kaikoura claims remains on tra
Slide 10: Questions
Questions pe
Slide 11: Board resolutions
Board resolutions
Slide 12: Board resolutions
Board resolutions • Resolution 1 Appointment and remuneration of the Auditor • Resolution 2 Re-elect Michael Stiassny as a director • Resolution 3 Re-elect Graham Stuart as a director 12
Slide 13: General business
General business
Slide 14: Annual Shareholder Meeting
Tower Limited Annual Shareholder Meeting Full Year Results to 30 September 2016 30 March 2017