Tower's Insurance Deal With Westpac 'Strategically Important' -- Market Talk

Dow Jones09-30

0013 GMT - Tower's new partnership with Westpac NZ to underwrite house, contents, motor, and landlord insurance policies from next July looks strategically important to bull Forsyth Barr. It broadens Tower's partnership distribution, Forsyth Barr says. Also, it validates Tower's digital, risk-based model and "builds our confidence in Tower's aspirations to grow its share of New Zealand's general insurance market and deliver gross written premium growth through the cycle," analyst James Lindsay says. Forsyth Barr estimates it could add some NZ$70 million of gross written premium by FY 2030. Its price target rises 4% to NZ$2.10/share. Tower is up 1.4% at NZ$1.76. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

September 29, 2025 20:13 ET (00:13 GMT)

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It broadens Tower's partnership distribution, Forsyth Barr says. Also, it validates Tower's digital, risk-based model and \"builds our confidence in Tower's aspirations to grow its share of <a href=\"https://laohu8.com/S/NZERF\">New Zealand</a>'s general insurance market and deliver gross written premium growth through the cycle,\" analyst James Lindsay says. Forsyth Barr estimates it could add some NZ$70 million of gross written premium by FY 2030. Its price target rises 4% to NZ$2.10/share. Tower is up 1.4% at NZ$1.76. 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