About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Friday, April 17th, 3:52PM
rss
Latest Headlines

S&P affirms Tower's ratings

Standard & Poor’s has given Tower the thumbs up on its credit rating.

Tuesday, July 24th 2001, 9:34AM

Standard & Poor’s has given Tower the thumbs up on its credit rating. S&P last week affirmed its A counterparty credit and insurer financial strength ratings on core Tower Ltd, life insurance subsidiaries, Tower Life Australia and Tower Life (New Zealand) Ltd.

Tower Insurance’s A insurer financial strength and counterparty credit ratings have been affirmed.

S&P says the outlook on all its ratings for Tower is stable.

The A ratings on Tower’s core operating subsidiaries reflects the group’s superior business position in its home market of New Zealand, and continued efforts to further build its profile in the larger Australian market. Australian operations now contribute more than two-thirds of the group’s revenue, with growth in funds under management being significantly aided by acquisitions in recent years, S&P says.

S&P says premium and funds under management growth, excluding growth through acquisition, has been moderate in the past year due largely to the effects of losing the Australian equity management team at the beginning of 2000. Moderate premium growth will be assisted by Tower’s approach to distribution ownership.

"Tower’s key challenges are to be able to leverage off its distribution network while restoring confidence in the independent financial advisors network, which is required to enable the group to generate good new business volumes," S&P says.

"This is overlayed by a competitive Australian market that recently has had its profitability affected by a bout of tax reform."

« Managed funds take a hitSovereign takes regulation bull by the horns »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • AFAs slow to update DIMS status
    “Well said MPT. It seems that the institutions are well on their way to dominate the personalised investment advice market....”
    2 days ago by macca
  • Are we sicker or just savvier customers?
    “Related to your first bullet point - with advances in medicine, conditions which would previously have seen you shuffle off...”
    2 days ago by dcwhyte
  • AFAs slow to update DIMS status
    “This begs the question has the FMA been incredibly successful or incredibly inept? Apparently 1000+ advisers now either...”
    2 days ago by MPT Heretic
  • PAA axes holiday homes scheme
    “Another way of verbalising the alleged inequity of the proposed cashing out of credits is as follows: The subscribers...”
    3 days ago by Murray Weatherston
  • PAA axes holiday homes scheme
    “I agree pretty much with what everyone above is saying and I only hope the Board of the PAA are reading these comments. ...”
    3 days ago by AFA Adviser
Subscribe Now

Weekly Wrap

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 6.74 5.99 5.99 6.29
ANZ Special - 5.49 5.39 5.79
ASB Bank 6.75 5.99 5.99 ▲6.39
ASB Bank Special - 5.59 5.39 ▲5.59
BankDirect 6.75 5.99 6.09 ▲6.39
BankDirect Special - 5.59 5.39 ▲5.59
BNZ - Mortgage One 7.15 - - -
BNZ - Rapid Repay 6.74 - - -
BNZ - Special - - 5.15 -
BNZ - Std, FlyBuys 6.74 5.49 5.39 5.55
BNZ - TotalMoney 6.74 - - -
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.45 5.95 5.99 -
Credit Union North 6.45 - - -
Credit Union South 5.75 - - -
eMortgage 6.04 6.15 6.69 7.19
Finance Direct 6.10 6.45 6.69 7.10
First Credit Union 6.45 - - -
General Finance 5.95 6.25 6.50 7.10
HBS Bank 6.65 5.69 5.39 5.69
HBS Special - 5.59 5.19 5.49
Heartland 6.70 7.00 7.25 7.85
Lender Flt 1yr 2yr 3yr
Heretaunga Building Society 6.70 5.70 5.40 -
Housing NZ Corp 6.74 5.70 5.99 6.29
HSBC Premier 6.84 5.65 5.65 5.65
HSBC Premier LVR > 80% - - - -
HSBC Special - 5.29 5.29 5.29
ICBC 6.75 5.99 6.39 -
Kiwibank 6.65 5.69 6.09 6.29
Kiwibank - Capped - - - -
Kiwibank - Offset 6.55 - - -
Kiwibank Special - - 5.39 5.55
Liberty - - - -
Lender Flt 1yr 2yr 3yr
Napier Building Society 5.80 6.00 6.70 -
Nelson Building Society 6.95 6.15 6.60 -
NZ Home Loans 6.85 6.09 6.40 6.29
Perpetual Trust 7.70 - - -
Resimac 6.59 ▼5.88 ▼5.86 ▼5.90
SBS Bank 6.65 5.69 5.39 5.69
SBS Bank Special - 5.59 5.19 5.49
Silver Fern 5.95 6.10 6.55 7.05
Sovereign 6.85 5.99 6.09 6.29
Sovereign Special - 5.59 5.39 5.45
The Co-operative Bank 6.70 5.59 5.39 5.59
Lender Flt 1yr 2yr 3yr
TSB Bank 6.74 5.70 5.70 6.00
TSB Special - - 5.35 5.60
Wairarapa Building Society 6.20 5.75 5.95 -
Westpac 6.59 5.99 5.99 5.99
Westpac - Capped rates - 6.74 6.99 -
Westpac - Offset 6.59 - - -
Westpac Special - - 5.39 5.89
Median 6.70 5.81 5.91 5.89

Last updated: 16 April 2015 9:09pm

News Quiz

How many Mike Pero Mortgage franchisees have served notice on the franchisor, Liberty Financial, that they will not be renewing their contracts?

7

10

13

23

18

MORE QUIZZES »

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by PHP Developer and eyelovedesign.com