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Tower secures National Pacific Insurance

Tower is on track to take complete ownership of its subsidiary National Pacific Insurance Ltd (NPI) continuing its expansion into the Pacific Islands.

Wednesday, November 3rd 2021, 9:59AM

The business is headquartered in Samoa and serves people across Tonga, American Samoa and Samoa.

In October, Tower purchased an additional 22% stake in NPI from its second-largest shareholder for approximately $3.4 million bringing Tower’s total shareholding to over 93%.

Following this acquisition, Tower will seek to purchase the remaining shares from minority shareholders, via a compulsory acquisition as allowed under NPI’s governing documents and local laws.

In addition to NPI’s three branches across Tonga, American Samoa and Samoa, Tower has branded operations in Papua New Guinea, the Cook Islands, the Solomon Islands, Fiji and Vanuatu.

Tags: Tower Insurance

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