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Tower Limited ( (AU:TWR) ) just unveiled an announcement.
Tower Limited has updated its financial guidance for FY25, projecting an underlying net profit after tax between $100m and $110m, up from the previous estimate of $70m to $80m. This increase is attributed to lower-than-expected large event costs and a strategic focus on house insurance, which has driven a 5% growth in customer base and a 10% increase in house insurance policies. Despite a reduction in average premiums due to competitive pricing and a focus on lower-risk policies, Tower anticipates sustainable growth. However, the company has revised its gross written premium growth to 2%-3% and adjusted its management expense ratio to around 31%, reflecting ongoing investments in technology and customer acquisition.
More about Tower Limited
Tower Limited is a New Zealand-based insurance company primarily focused on providing house insurance. The company has a strategic emphasis on the New Zealand market, where it has seen significant growth in its customer base and policy numbers.
Average Trading Volume: 33,934
Technical Sentiment Signal: Buy
Current Market Cap: A$527.7M
For a thorough assessment of TWR stock, go to TipRanks’ Stock Analysis page.