By Digifin Pty Ltd · About this coverage
Key Points
- FY26 underlying NPAT guidance lifted to $69m-$79m from $55m-$65m
- Large event claims about $25m vs $45m allowance; unused ~$20m adds $14m after tax
- Customers up 8% to 345,000; GWP growth 3%, in line with low single digit guidance
- Full FY26 results scheduled for 26 November; figures preliminary and unaudited
About Tower (ASX:TWR)
Tower Limited is an NZX and ASX-listed general insurer incorporated in New Zealand and headquartered in Auckland. It underwrites personal and commercial insurance in New Zealand and the Pacific, including home, contents, motor and related products sold directly and through partners.
Tower (ASX:TWR) revised its FY26 underlying net profit after tax guidance for the year to 30 September 2026 after large event claims used less of the allowance than earlier guidance assumed. Based on preliminary, unaudited results, it now expects FY26 underlying NPAT of $69m to $79m, against the previous $55m to $65m range.
The uplift reflects the $45m large event allowance not being fully utilised. Large event claim costs of around $25m were recorded for the year, with an unused allowance of around $20m lifting expected underlying NPAT by $14m after tax. The company says the expected result reflects a return to a more typical earnings profile after the unusually favourable weather and claims experience of FY25. Reported profit will continue to be affected by non-underlying costs, including further customer remediation programme costs in the second half. Customer numbers rose 8% to 345,000 and gross written premium grew 3%, in line with low single digit guidance. Full FY26 results are due on 26 November. The release does not break out the final audited underlying NPAT figure.
Source: Tower Limited (ASX:TWR), 6 October 2026. Summary content supplied by Digifin Pty Ltd.
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