Tower Limited ( (AU:TWR) ) has issued an announcement.
Tower Limited has revised its FY25 earnings guidance, increasing its underlying net profit after tax to a range of $70m to $80m, driven by favorable weather conditions and enhanced risk selection. While the company sees growth in customer numbers, a reduction in average premiums has led to lower-than-expected growth in gross written premiums. The management expense ratio is adjusted to <31% due to strategic investments, and the combined operating ratio is expected to be between 82-84%. The company faces ongoing challenges from Canterbury earthquake claims, impacting reported profit.
More about Tower Limited
Tower Limited is a New Zealand-based insurance company primarily operating in the home and motor insurance sectors. The company focuses on providing competitive pricing and risk selection, with a market presence in New Zealand and a strategic emphasis on growth and efficiency improvements.
YTD Price Performance: 9.64%
Average Trading Volume: 35,375
Technical Sentiment Signal: Sell
Current Market Cap: A$442M
For detailed information about TWR stock, go to TipRanks’ Stock Analysis page.