Tower Financial Strength Rating Affirmed as A- (Excellent)

11 March 2019

Market Information Company Announcements Office
NZX Limited Australian Securities Exchange Limited
Level 2, NZX Centre Exchange Centre
11 Cable Street Level 6, 20 Bridge Street
Wellington Sydney NSW 2000
New Zealand Australia


Tower rating reaffirmed as A- (Excellent)

Global insurance company ratings specialist A.M. Best Company has reaffirmed Tower Insurance
Limited’s (TIL) financial strength rating as A- (Excellent), with a stable outlook, reflecting Tower’s
strong balance sheet, continued adequate performance and solid reinsurance approach.

The company’s issuer credit rating was also affirmed as “a-“. In its announcement, A.M. Best
Company noted that the rating reflects TIL’s balance sheet being very strong along with the
company’s adequate operating performance, neutral business profile and appropriate enterprise
risk management.

Tower Chairman Michael Stiassny welcomed the confirmation from A.M. Best.

“A.M. Best’s announcement confirms our view that the transformation of Kiwi insurer Tower is
delivering results and that the business is strong and performing well.”

A copy of the A.M. Best Company’s news release is attached.


ENDS


Richard Harding
Chief Executive
Tower Limited
ARBN 088 481 234 Incorporated in New Zealand


For media queries, please contact:
Nicholas Meseldzija
Head of Corporate Communications
Tower Limited
Mobile: +64 21 531 869
Email: nicholas.meseldzija@tower.co.nz