Tower Insurance

Last week, Tower celebrated 25 years listed on the NZX Limited so we’re taking a trip down memory lane with one of our team members who’s seen it all - from 25 years before list day, to 25 years after! Business Architect Graeme White, has been with Tower for 51 years, having started his journey with National Insurance. When Graeme left school in 1972, he worked for the family business packing and delivering parcels.  A year in, an opportunity came up at National Insurance. Graeme started in a junior office role, as an Underwriter in Hamilton, before the era of terminals and screens, so everything was paper based. Getting a policy out took six sets of hands, a far cry from the automated online quote-to-buy journey we have across NZ and the Pacific today! "A typical policy process in those days was to complete a proposal, then it would go to the Underwriting Manager then, to people for coding," says Graeme. "After that, it was typed-up again using an IBM electronic typewriter, which would send a copy to the only computer in Dunedin, and a copy for the customer. From there, it would come back to me for checking and finally to the manager for signing off." Over the next few years, Graeme held various roles, from Underwriter in Hamilton to Resident Inspector in Thames. In the1980s, he began working closely with the technology team in Dunedin.  In 1985, National Insurance began to make the move towards digital-based policies. This granted branch staff access to up-to-date customer, policy, claims and accounting information via a designated computing system. A new direction for National Insurance and the first inkling of what was to come with My Tower – our modern-day, online, self-service platform – years later. "I’ve had plenty of opportunities. Something new has always come along and interested me." In 1987, National Insurance’s HQ moved to Auckland and with it, Graeme. Just over a decade later in 1999, we would list on the NZX, officially becoming ‘Tower’. "At the time, we were like a fleet of ships, with different Boards and companies. When we listed, those businesses began to merge, and the journey started to amalgamate functions. "When I look back, in the 1980s we were a very customer focused company. Now, we have a really big focus on the customer too." Tower Acting Co Chief Data Digital Officer Liz Cawson, says "Graeme is one of the most dedicated people that I have come across. His experience and desire to get the best outcome for Tower makes him one of the most respected and well-liked members of the tech team." Thank you, Graeme, for your outstanding commitment to Tower staff and our customers over 50 years of amazing service! Pictured: Excerpts from a 1985 National Insurance staff newsletter celebrating the new computing system. Graeme, Liz, and Acting Co Chief Data Digital Officer Johannah Benton, at a staff event celebrating 25 years listed on the NZX.    #TowerNZ #TowerPacific #insurance

Tower recently had the privilege of hosting the Governor of the Reserve Bank of Fiji Ariff Ali, at our Suva hub.    During his time with us, the Governor met with Chief Underwriting Officer Ronald Mudaliar, Chief Administrative Officer Andrew Hambleton, Director Mike Cutter and members of our Fiji leadership team; Country Manager Joseph Magnus and Suva hub Co-Heads Jajeena Bhan and Liliana Warid.     We shared insights about our business and the steps we are taking to enhance our operations, complete with a tour of the building.    Our 150th year of operation in Fiji has been a busy one for our teams and Suva hub.    Throughout 2024, we’ve hosted the Rt. Hon. Fiji Deputy Prime Minister Professor Biman Prasad at our Suva Hub opening in February, Rt. Hon. Prime Minister of New Zealand Chris Luxon during the New Zealand government’s Pacific trade visit in June, NZ High Commissioner to Fiji, H.E. Charlotte Darlow at both events and now, Governor of the Reserve Bank of Fiji Ariff Ali.    These visits underscore our commitment to collaborating with government, our communities and the wider financial sector to bolster the broader economic development, and resilience of Fiji.    Together, our people are delivering on our purpose to protect, shape and enhance the future for the good of our customers and communities! #TowerPacific #TowerNZ #insurance

We’re celebrating being made a finalist in the 2024 ANZIIF New Zealand Insurance Industry Awards’ Excellence in Workplace DE&I category!  Why the group pic? Across Tower, we have seven core employee representation groups (ERGs): 🔥Ahi Kā (Māori roopu) 🌈Rainbow Network (LGBTIQ ) 💎Mana Wahine Toa (women’s network) 💫SPARK Network (supporting physical and neurodiversity, advocacy, respect and knowledge) 🎉We@Tower Group (celebrates cultural diversity) 💙Mera Hanua Fiji and Tower Bula Fiji. Pictured here are just some of our MANY members.  Our ERGs champion the diverse backgrounds and perspectives of our teams, to enhance, celebrate and continuously improve diversity, equity and inclusion in our organisation. At Tower one of our core values is ‘our people come first’. Our ERGs help enable us to live up to this value so, how could we celebrate this finalist nod without them!? Congratulations to all other finalists of the 12th New Zealand Insurance Industry Awards. #TowerNZ #TowerPacific #insurance #DEI

Helping Kiwis when they need it most - a big congratulations to Tower Insurance's Chair Michael Stiassny, CEO Blair Turnbull and the TWR team for celebrating 25-years listed on the NZX! Over this time, Tower Insurance has evolved impressively, with insurance solutions tailored to everyday needs. Learn more: https://lnkd.in/gek4jqFX

This weekend we marked 25 years of Tower on the NZX Limited! Listing was a watershed moment in our rich 155-year history and journey to becoming a leading direct insurer in Aotearoa New Zealand and across the Pacific.  After 130 years as part of the state sector, in 1999 Tower became a Trans-Tasman listed entity. Since then we’ve had quite the journey! Under Colin Beyer (Chairman) and James Boonzaier (Group Managing Director), we combined our businesses including superannuation, Trustee services, Asset Management, Life, Health and General Insurance.  Back then, over half of our business was in Australia and shortly after they would embark on an aggressive Asian strategy, including an office in Beijing. In the years since, we: 🔷 Sold the Australian TAL business (2006) 🔷 Sold our Life, Health and Investment businesses (2014) 🔷 As part of our digital transformation, launched a new era of Tower management and culture including, a cloud-based digital and data platform, which has helped us to become a leading private and SME insurer in our chosen NZ and Pacific markets (2020). Just to name a few milestones! We create beautifully simple and rewarding experiences for our customers. This has been largely enabled through our leading digital and data platform, risk-based pricing, innovation, resilience, and of course our people, who lie at the heart of everything we do. We’ve had our fair share of ups and downs, but as we hit our 25th NZX anniversary, we’re a focused, fit and innovative business incredibly excited about our bright future. We are committed to helping our customers and communities protect their home and assets today and far into the future.    We sincerely thank you for all your support over the past 25 years. Here’s to the next 25 and beyond! Pictured: Tower team ringing the bell this morning at the NZX head office, an excerpt from our history wall, our 1999 and most recent annual report covers. #ToweNZ  #TowePacific #25Years

Tower is thrilled to announce our inaugural Tower Vunilagi Scholarship recipients, following an in-depth selection process to find potential future leaders of Tower and Fiji!   This year’s successful applicants are Aqela Buloudruadrua, Shayal Gosai and Saula Baleinubu. The trio were welcomed into the Tower fold this week at a special event at our Suva hub.   "On behalf of Tower, I would like to sincerely thank all applicants, we have been very impressed with the quality of submissions." - Tower Suva Hub Co-Head Jajeena Bhan.   "When we chose our inaugural Tower Vunilagi Scholarship recipients, we were looking for inspiring students who demonstrated potential as future Tower leaders, to help us build an even better business and create a more equitable, resilient and sustainable future for all Fijians.   "Aqela, Shayal and Saula embody this, and we are so pleased to share their success with our wider communities in Fiji, who we know have been excited about this scholarship too. "At Tower, there are endless opportunities to progress your career and make a difference, right here in Fiji. The Tower Vunilagi Scholarship is one way we are helping our young people kick-start a fulfilling career at home."   This year marks 150 years of operation in Fiji for Tower. We launched the Tower Vunilagi Scholarship in June, as part of a year of celebrations to commemorate this milestone with the people of Fiji.     Each year, the scholarship will cover a full year of tuition fees for three students in their final year of bachelor’s degree study at The University of the South Pacific.   As scholarship recipients, Aqela, Shayal and Saula will complete paid internships and graduate with the opportunity to accept a permanent role with Tower. Check out this video to hear from this year's recipients! #TowerPacific #insurance #TowerVunilagiScholarship The University of the South Pacific (USP)

Last week, we hosted award-winning speaker and globally recognised thought leader, Dr Amanda Sterling. Amanda shared insights from her research into women's experiences in the workplace, leadership and the importance of making ‘leadership’ a space where people with a variety of different lived experiences can thrive. "It was fantastic to hear Amanda’s research. I think something we can all take away from the event is that we can start by recognising leadership norms and being curious as to whether they’re helpful for people with a range of different experiences, backgrounds and cultures to thrive in leadership." – Tower Product Marketing Manager Tali Abercromby. "I walked away feeling empowered. As a mother, most of what Amanda spoke about, I could relate to. I’m glad that I work for a company and in a team where gender equality is important, and I’m surrounded by like-minded people who encourage inclusion, diversity and equity." – Tower Partner Performance Manager Talya Kay. Thank you to Tower’s women’s network, Mana Wahine Toa, for organising this brilliant event for our teams! #TowerNZ #TowerPacific #insurance 

"Tower’s focus on risk-based pricing combined with our dynamic rating ability helped us secure favourable terms for our FY25 reinsurance." - Tower CFO Paul Johnston. "We’ve further strengthened relationships with global reinsurers, with several agreeing to new multi-year arrangements, which provides greater long-term certainty of reinsurance costs and catastrophe excesses.   "We’re pleased to have secured a comprehensive reinsurance programme with stable excesses and pricing. This will help Tower maintain competitive pricing for customers."   This morning, we announced that Tower had successfully renewed its reinsurance programme for FY25. Coverage here via RNZ https://lnkd.in/g_u8-W-V and further info here via the NZX Limited https://lnkd.in/gBHZFevH   #TowerNZ #TowerPacific #insurance #reinsurance

Ka mau te wehi! Check out this kapa haka performance at our Fanshawe Street office, yesterday!    As part of our Te Wiki o te Reo Māori celebrations, Ahi Kā, Tower’s Māori roopū, collaborated with our Fanshawe Street whānau, 2degrees and Fidelity Life. The waiata were truly incredible, with sound travelling throughout the whole building. A special sentiment of how 'kotahitanga' can be such a powerful gift. Te Wiki o te Reo Māori theme this year is 'ake ake ake – a forever language', highlighting the resilience and enduring nature of te reo Māori.    At Tower, one of our values is 'our people come first' (aroha). As a business, we work hard to foster a diverse, equitable and inclusive environment, where all our people are encouraged to bring their true selves to work.    Ahi Kā, leads by example, weaving te reo Māori and Pacifica throughout Tower to help us live up to our values, and deliver on our purpose to inspire, protect and enhance the future for our people, whānau and whenua, too.    Special thanks to Tower P&C Business Partner Dylan Somerville, Head of Business Partnering, Employee Relations and Inclusion Danica Hape-Tiria, 2 Degrees Kaikōrero Jason Reti-Thompson, and Fidelity Life guitarist Matt Ineleo, for such a special event for our building!    Other Te Wiki o Te Reo Māori events at Tower this week included a special screening for our teams of Te Ao with Moana Maniapoto: interview with Sir Robert 'Bom' Gillies, the last living member of the 28th Māori Battalion (thank you Moana and Sir Robert for this taonga).    #TowerNZ #TowerPacific #Insurance #TeWikioteReoMāori #TeReo  . . . Kapa haka: Danica, Dylan, Jason, Matt, Kirstie Taplin, Talya Kay, Gomathy Kokulan, Lisa Ellender, DeeJay Mane, Cheyenne Tugaga, Johannah Benton, Shay Grantham, Nahid Hassan, Alicia P., Samantha Ineleo, Shanaia King, Megan Barclay.

"Parametric insurance is one tool we are using to help increase insurance awareness and uptake in the Pacific." - Chief Underwriting Officer Ronald Mudaliar. "We are committed to helping the economic and personal resilience of Pacific communities using parametric insurance, and are thrilled to partner with CelsiusPro on this journey." Full story linked below. #TowerPacific #TowerNZ #insurance #parametricinsurance