New Zealand · Delayed Price · Currency is NZD Tower Earnings Call Transcripts
Fiscal Year 2026
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Underlying NPAT reached NZD 36.8 million, with reported profit at NZD 22.9 million, impacted by remediation and one-off costs. GWP growth slowed to 1% amid pricing pressure, but strong policy growth and digital investments support future outlook. Interim dividend of NZD 0.05 per share declared.
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The meeting reviewed a strong FY 2025 with record profits, low large event claims, and increased dividends. Strategic focus remains on digital innovation, risk-based pricing, and partnerships to drive growth. Board independence, climate risk, and robust reinsurance were key discussion points.
Fiscal Year 2025
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Record underlying profit and strong policy growth were driven by favorable weather, disciplined risk selection, and digital transformation. Guidance for FY 2026 targets continued growth through innovation, with a focus on efficiency and customer experience.
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Half-year results showed strong profit growth, improved claims and expense ratios, and a robust capital position. GWP rose 4% year-over-year, with a focus on risk-based pricing and operational efficiency. Outlook remains positive, with prudent event allowances and continued investment in digitization.
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Strong financial results, improved operational efficiency, and a robust capital position led to a significant dividend and a proposed NZD 45 million capital return. Strategic focus remains on digital transformation, risk-based pricing, and climate resilience, with leadership transitions and governance enhancements underway.
Fiscal Year 2024
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Underlying profit after tax surged to NZD 83.5 million, with GWP up 15% and improved claims and expense ratios. FY 2025 guidance targets 10–15% GWP growth, MER below 29%, and underlying NPAT of NZD 50–60 million.