Reinsurance News
Tower
Tower reports record FY25 profits as GWP increases to $600m
27th November 2025
New Zealand-based insurer, Tower Limited, has reported an underlying profit after tax (underlying NPAT) of $107.2 million and a reported profit of $83.7 million for the financial year ended 30 September 2025. This increase was a significant turnaround from the $83.5 million underlying profit and $74.3 million reported profit recorded in ... Read the full article
Tower launches parametric Rainfall Response Cover in Fiji
19th November 2025
Auckland, New Zealand–headquartered Tower Insurance has officially launched Rainfall Response Cover in Fiji, its second parametric insurance product, via CelsiusPro’s award-winning White Label Platform. The parametric product is being piloted for the 2025–2026 wet season with support from the UNCDF and Pacific Insurance and Climate Adaptation Programme, and in partnership with ... Read the full article
Tower lifts cat cover to NZ$915m as CEO cites risk-based pricing advantage
24th September 2025
New Zealand-based insurer Tower has renewed its reinsurance programme for the financial year ending September 2026, increasing its catastrophe cover limit to NZ$915 million from NZ$800 million in 2025. According to the Kiwi insurer, the renewal secured comprehensive cover at competitive rates across its home, motor, boat, and commercial portfolios ... Read the full article
Tower completes FY25 reinsurance renewal, lifts catastrophe upper limit by NZ$50m
23rd September 2024
Kiwi insurer Tower has renewed its reinsurance coverage for the 2025 financial year, increasing its catastrophe upper limit to NZ$800 million with a higher attachment point than last year. Tower says that it has secured comprehensive cover at competitive rates for its home, motor, boat and commercial portfolios across New Zealand ... Read the full article
CelsiusPro and Tower launch IT platform for parametric cover in the Pacific
12th September 2024
Parametric insurtech CelsiusPro and Tower, a New Zealand and Pacific insurer, have successfully launched the previously announced IT platform for parametric insurance distribution for Tower, beginning with its Cyclone Response Cover in the Pacific Island countries of Fiji and Tonga. The product provides policyholders with rapid cash payouts when their ... Read the full article
Tower expects FY24 underlying NPAT at upper end of or exceed range of $22m & $27m
15th February 2024
Kiwi insurer Tower has updated its earnings guidance on underlying net profit after tax (NPAT) for the year ending September 30, 2024 to be at the upper end of or exceed the previously advised range of between $22 million and $27 million. This assumes full utilisation of a large events allowance ... Read the full article
CelsiusPro and Tower partner to improve parametric cover in the Pacific
22nd November 2023
Parametric insurtech CelsiusPro Group has partnered with Tower to upgrade the New Zealand-based insurer’s IT platform for its Cyclone Response Cover, a parametric insurance product designed to provide cover in the Pacific CelsiusPro’s award-winning White Label Platform (WLP) solution will be used to develop a bespoke distribution platform for Cyclone Response ... Read the full article
Tower completes FY24 reinsurance placement, lowers catastrophe upper limit
28th September 2023
Kiwi insurer, Tower has completed the renewal of its reinsurance programme for the 2024 financial year, decreasing its catastrophe upper limit to $750 million. Tower says that is has secured a comprehensive reinsurance programme at competitive rates for home, motor, boat, and commercial portfolio cover, across New Zealand and the Pacific, ... Read the full article
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