Business
Tower : Half Year Accounts
Tower : Half Year
About this update from Tower Limited
Tower Limited Level 5, 136 Fanshawe Street Auckland 1142, New Zealand ARBN 645 941 028 Incorporated in New Zealand Market Information onlyNZX Limited Level 1, NZX Centre 11 Cable Street Welli gton New Zealand Company Announcements Office useASX Limited Exchange Centre Level 6, 20 Bridge Street Sydney NSW 2000 A stralia 26 May, 2022 personal6 NZX Distribution Notice Tower Limited Half Year 2022 Results Announcement In accordance with NZX Listing Rule 3.5.1, please find enclosed the following for release to the market in relation to Tower Limited's (NZX/ASX: TWR) Half Year 2022 Results: 1 Media Release 2 Results Announcement 3 Interim Financial Statements (including Independent Auditor's Review Report) 4 Results Announcement Presentation 5 Results Announcement Call Script ForTowe 's Chairman Michael Stiassny, Chief Executive Officer, Blair Turnbull and Chief Financial Officer, Paul Johnston will discuss the half year results at 10.00am New Zealand time today. For the purposes of ASX Listing Rule 1.15.3 Tower confirms that its primary listing is on the main board of the New Zealand Stock Exchange and Tower therefore continues to comply with the NZX Listing Rules. ENDS This announcement is authorised by Blair Turnbull, CEO, Tower Limited. For media enquiries, please contact in the first instance: Emily Davies Head of Corporate Affairs and Sustainability Tower Limited Mobile: +64 021 815 149 Email: [email protected] Level 5, 136 Fanshawe Street Auckland 1142, New Zealand ARBN 645 941 028 For personal use only Market Information NZX Limited Level 1, NZX Centre 11 Cable Street Wellington New Zealand Company Announcements Office ASX Limited Exchange Centre Level 6, 20 Bridge Street Sydney NSW 2000 Australia 26 May, 2022 Strong growth and efficiencies drive improved business performance Tower maintains guidance and announces half-year dividend Kiwi insurer, Tower Limited (NZX/ASX:TWR) has today reported half-year underlying profit excluding large events of $18.2m, up 6.4% from $17.1m at the half-year 2021. Reported profit including large events of $17.9m was $3m, compared to $11.1m in the prior year. Summary of key results: Gross written premium (GWP) $216m, up 11% on HY21 Customer numbers increased 6% to 312,000 Management expense ratio (MER) improved to 35.8% vs 37.1% in HY21 Large event costs $17.9m vs $9.3m in HY21 Underlying net profit after tax (NPAT)...