S & P to Positive

Hello everyone,

I am pleased to be able to tell you that the international ratings agency, Standard & Poors, has put TOWER Limited on a positive outlook. This continues a trend by S&P to see the work done both at TOWER in Australia and New Zealand, as being successful.

In particular, S&P noted TOWER’s strong capitalisation, strong profile in New Zealand and satisfactory business profile in Australia as key drivers behind the move to a positive outlook.

S&P said it will consider an upgrade of TOWER in the medium term if the company continues to remain increasingly competitive in the Australian market and the Group’s profitability continues to improve.

We, at TOWER in Australia, are now out to achieve that upgrade as quickly as we can and we will do that by working with you, our business partners, to make sure we become the leading risk insurance company in this market.

Getting a positive outlook from S&P only makes us want to achieve more.

Jordan Hawke
Head of Distribution and Sales Marketing
TOWER Australia Limited

Disclaimer
This document has been prepared to be used by financial planners and advisers only. It is not to be provided to individual clients. The information contained in this document is general information only and cannot be considered to be financial advice. The information does not take account of the investment objectives, financial situation or particular needs of any particular client. To the extent permissible by law, TOWER Australia Limited (ABN 70 050 109 450, AFSL 237848) and its related companies (TOWER) specifically disclaims any liability that may arise for any direct, indirect, incidental, consequential or special damages that may arise from the access to or use of this document. No liability is accepted by TOWER for errors and omissions or for loss or damage suffered as a result of reliance on this document.

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TOWER Australia Ltd
A.B.N. 70 050 109 450
AFSL Number 237848