Tower renews reinsurance with only ‘moderate’ increases
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Tower renews reinsurance with only ‘moderate’ increases

Aisling Finn
28 September 2023
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New Zealand insurer Tower has renewed its reinsurance programme for the 2024 financial year, securing “competitive rates” for home, motor, boat and commercial portfolio cover across New Zealand and the Pacific.

Tower decreased its catastrophe upper limit from NZ$934mn ($555mn) to NZ$750mn as a result of last year’s Toka Tū Ake EQC increase from NZ$150,000 to NZ$300,000, which reduced the amount of coverage needed.

The

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