3 mins to read Tower shares slump on weak result Listed insurance company’s interim profit down after four large weather events during the half. Tower chief executive Paul Johnston. Jonathan Mitchell Thu, 21 May 2026 © All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription. Key points Revenue: down 2% to $291.2m Profit: down 54% to $22.9m Main takeaway: Tower sticks with guidance of between $55m to $65m underlying profit in FY26. Shares in listed
insurer Tower slumped by over 8% today as the company reported weaker results in challenging operating conditions. Its first-half profit dropped to $22.9 million in the six months ended March, after adjustments for ongoing customer remediation costs from historic discount errors. Want to read more? It’s easy. Choose your subscription Already have an account? Login Smartphone Only Subscription NZ$29.95 / monthly Monthly Premium Online Subscription NZ$49.95 / monthly Smartphone Only Annual Subscription NZ$299.00 / yearly Yearly Premium Online Subscription NZ$499.00 / yearly Premium Group Membership
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FREE offer for uni students studying at a New Zealand university (valued at $499). View terms and conditions. Jonathan Mitchell Thu, 21 May 2026 Contact the Writer: jmitchell@nbr.co.nz News tip? Question? Typo? Let us know: editor@nbr.co.nz © All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription. Paul Johnston New Zealand Free News Alerts Sign up to get the latest stories and insights delivered to your inbox – free, every day. Company profile Powered by: Previous
Close Avg Daily Volume Daily High 52 Week High 52 Week Low Related News Comings & Goings New interim chief financial officer for Tower Comings & Goings Tower appoints new chief people officer Investment Tower insists customers are getting a competitive deal Investment Tower profit guidance range bumped up by $30m General Business Insurance sector ripe for competition inquiry, better oversight Free News Alerts Sign up to get the latest stories and insights delivered to your inbox – free, every day. Key points Revenue: down
2% to $291.2m Profit: down 54% to $22.9m Main takeaway: Tower sticks with guidance of between $55m to $65m underlying profit in FY26. Company profile Powered by: Previous Close Avg Daily Volume Daily High 52 Week High 52 Week Low Related News Comings & Goings New interim chief financial officer for Tower Comings & Goings Tower appoints new chief people officer Investment Tower insists customers are getting a competitive deal Investment Tower profit guidance range bumped up by $30m General Business Insurance sector ripe for
competition inquiry, better oversight
Tower, shares, interim profit, revenue, customer remediation costs, discount errors, four large weather events, underlying profit guidance, FY26