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International

New Zealand: Insurer Tower's six-month profit falls 70%

May 30, 2014 Reprints

New Zealand-based insurer Tower Ltd. recorded a 70% year-on-year decline in profit after tax for the six months ended March 31, Reuters reported.

The insurer saw a rise in claims during recent months after cyclones and floods hit the country's South Island, reports Reuters.

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New Zealand: Insurer Tower's six-month profit falls 70%

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