Although Tower is a small force in general insurance, growth opportunities remain.
We transfer analyst coverage of Tower Limited. We reaffirm our current forecasts, our DCF-based fair value estimate of NZD 1.70/AUD 1.60 per share, our no-moat and high uncertainty ratings.ÂTower is in the early stages of a business improvement program and suffered from particularly tough industry conditions in New Zealand in the six months to 31 March 2016 with underlying profit declining 57% to NZD 7.6 million. Tower is facing higher industry costs, tough competition limiting its ability to a...
Tower is engaged in the provision of general insurance. Co. and its subsidiaries primarily operate in New Zealand with some of its operations based in the Pacific Islands region. Co. and its subsidiaries' operating segments are New Zealand General Insurance and Pacific Genral Insurance. The New Zealand General Insurance segment comprised general insurance business written in New Zealnd. The Pacific Genral Insurance segment includes genral insurance business with customers in the Pacific Islands written by TOWER Insurance subsidiaries and branch operations.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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