Tower reinsurance recoveries rise to $124mn after NZ cyclones, flooding
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Tower reinsurance recoveries rise to $124mn after NZ cyclones, flooding

Rachel Dalton
23 November 2023
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New Zealand carrier Tower has said it will transfer NZ$205.2mn ($124mn) of losses to reinsurers in its fiscal year 2023 after major cyclones and flooding hit the country in the past year.

This spiked up from just $15.1mn in 2022.

In July, Tower pegged its net large-event costs following the Auckland floods and cyclones Judy and Kevin at NZ$39.5mn.

Large-event

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Rachel Dalton
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