Tower to acquire Youi NZ insurance portfolio and raise capital

Company News

by Anna Napoli

Tower insurance (ASX:TWR) has inked a deal to acquire Youi NZ insurance portfolio.

 Under the deal Tower will acquire Youi NZ’s 34 000 in-force polices for a total purchase price of NZ$13 million.

Tower says the acquisition will further accelerate the company’s growth ambitions and drive shareholder value.

The deal is subject to certain conditions including pprovals from the Reserve Bank of New Zealand.

Shares in Tower Insurance (ASX:TWR) last traded at $0.715 on the 18th of September.


Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.