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National Pacific Insurance is changing its name to Tower

From today, Tower will begin rebranding its National Pacific Insurance products and offices, as part of
officially welcoming NPI to the Tower aiga.

Tower and NPI have been working together for over 40 years and in November 2021, Tower took full
ownership of the business. Tower Managing Director Pacific Andrew Hambleton, says that while the
relationship between the two insurers isn’t new, from today, NPI will begin rebranding to Tower, now
that NPI is 100% part of the Tower family.

“If you haven’t already, you’ll start seeing and hearing more from Tower. While the name above the
door will change, you’ll still see all the same people, plus new, easier ways to manage your insurance

Tower has been supporting Pacific and Kiwi communities for over 150 years, operating in New Zealand,
Fiji, Vanuatu, the Cook Islands, the Solomon Islands, Tonga, Samoa and American Samoa.

As part of its plan to dramatically improve insurance accessibility across the Pacific, Tower will be
bringing new digital capabilities to Tonga, Samoa and American Samoa over the coming months, like
online quote to buy capabilities and the My Tower platform, already introduced in Fiji earlier this year.
My Tower is the first insurance platform in the Pacific that allows people to pay their insurance
premiums, lodge a claim, get a quote, update their personal details, purchase a policy and now view
their motor vehicle, house and contents policies, all in one simple online portal.

“We’re the only insurance company in the Pacific that can provide this level of online customer
experience. Now that NPI has 100% joined the Tower family, we’re excited to continue our legacy of
care and support, along with new ways to help manage your insurance online – simply put, we’re the
same trusted team, with new ways to help,” says Mr Hambleton.

“You’ll still see and talk to all the same friendly, helpful people in the same places, with new Tower
uniforms. You’ll also get a Tower policy when you renew or take out car, contents or house cover. This is
a phased rebrand journey so, some policies, including any that cover your business, will stay under NPI
for now, unless we let you know otherwise.”

Mr Hambleton says that today’s rebrand launch also signifies Tower’s longstanding commitment to
Pacific communities.

“Our teams are very enthusiastic about this change. We are thrilled to continue Tower’s mission of
revolutionising insurance in the Pacific, by making it easier to use and simpler to access for all of our


Notes to Editors
In October 2021, Tower purchased an additional 22% stake in NPI from its second largest shareholder
for approximately $3.4m or 14.00 Samoan Tala per share, bringing Tower’s total shareholding to over
93%. Following this acquisition, Tower purchased the remaining shares from minority shareholders, via a
compulsory acquisition as allowed under NPI’s governing documents and local laws. In November 2021,
Tower took full ownership of NPI.

More information here, Tower acquires remaining shares in National Pacific Insurance.

About Tower
Tower has been supporting Pacific communities when they need it most for over 140 years and Kiwi
communities for over 150 years. In that time, we’ve grown to operate across New Zealand and seven
Pacific Island nations, providing our customers with cover for their houses, cars, contents, businesses
and more.

While our heritage is important to us, we’ve also set our sights on the future. Tower’s focus on
innovation and investment in large-scale digital transformation, has enabled the business to evolve
rapidly, in-line with the latest in technology and customer expectations. The result is customer-focused,
digital-first insurance solutions – combined with joining forces with like-minded partners, Tower has
been able to create more, simpler products, to suit the modern lifestyles of its customers.

For more information, please visit www.tower.co.nz

For media enquiries, please contact in the first instance:
Kayla Dalrymple
External Communications Specialist
Mobile: +64 27 951 3710
Email: [email protected]

Tower announces major investment into Pacific Insurance Digitisation

27 November 2020

Tower Limited (NZX/ASX: TWR) announced it will be rolling out new digital technology to make life easier for its Pacific customers following this week’s profit announcement.

In a release to markets, Tower (which also trades as National Pacific Insurance in Samoa, Tonga and American Samoa) advised that strong customer and profit growth was achieved thanks to its continued focus on digital and data.

Tower Managing Director – Pacific, Paula ter Brake says the improving underlying performance means Tower can proceed with digitisation plans across its Pacific Island business, starting with a new private motor vehicle product in Fiji in December 2020.

“The Pacific Islands are an incredibly important part of our business. We’ve been operating here for over 145 years and we are excited to be the first insurer to provide a fully optimised digital platform for our customers to use across the region,” says ter Brake.

“Starting in Fiji, customers will be able to do much more online – including getting a quote, buying a policy and making a claim. We want to give our customers more options and give them control over how they communicate with Tower, so it works best for them.”

ter Brake says providing customers with more options to manage their insurance has already proved popular in New Zealand.

“Following digitisation in New Zealand, we are seeing 65 percent of all new business sold online and we believe that we can replicate this success across the Pacific,” says ter Brake.

“We know that one of the biggest barriers to insurance uptake in the Pacific is accessibility and being fully online can really help make it easier for our customers to talk with us.

“At the moment, we are trying to help customers across an enormous geographical region from just 10 branches throughout eight nations. We know this is not practical for many of our customers, some of whom are located on outer islands or in rural communities.

“We are committed to do better for these customers, and digitisation allows us to do this.”

ter Brake says the digitisation will also be good news for employment in Fiji.

“We will be using the same platform as we use for our New Zealand customers, meaning that our Pacific Operations Hub in Suva will also help service our New Zealand business. As a result, we’ve already recruited ten new customer service and claims representatives in Fiji.

“Given the impact COVID-19 has had on Pacific Island economies, we are even more determined to provide our customers with quality service and good value, as well as a continued commitment to work with those customers who are facing hardship.”

Tower’s underlying profit excluding large events increased 23% on the prior year to $34.7m with its underlying profit including large events increasing 3% on the prior year to $28.4 million.

Tower’s reported profit of $12.3 million, includes a $9.5 million impact from the recently announced EQC settlement of $42.1 million. Tower will receive $42.1m after disbursement to reinsurers and cost which amounts to 76% of the gross carrying value listed in Tower’s accounts.

“Tower’s financial results demonstrate that the company is well capitalised and in a strong position to continue to support the region and build resilience in the years ahead as we work together to help the Pacific Islands realise their potential,” says ter Brake