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International

Tower Insurance’s profit drops after claims write down

November 25, 2020 Reprints

New Zealand-based Tower Insurance Ltd.’s after-tax profit dropped to $12.3 million New Zealand ($8.52 million) for the full year to Sept. 30 after a less-than-expected settlement with the Earthquake Commission, Stuff reported. Tower has to write down NZD9.5 million related to the Canterbury earthquake claims.

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Tower Insurance’s profit drops after claims write down

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