Tower Limited Unaffected by New Financial Standards

Tower Limited (AU:TWR) has released an update.

Tower Limited has announced that the new IFRS 17 Insurance Contracts and RBNZ Interim Solvency Standard, effective from FY24, are not expected to significantly affect the company’s strategy or financials. The company has detailed the changes in financial statement presentations and confirmed the minimal impact through transitional adjustments. Tower’s profitability and dividend policy will remain consistent with past performance.

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