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RBNZ eases Tower’s solvency margin

But $25m minimum remains due to residual uncertainty related to the Canterbury earthquakes.

The Reserve Bank of New Zealand has reduced the minimum solvency margin required by Tower after the NZX-listed insurer settled an $80 million claim with the Earthquake Commission.

Tower said today its minimum solvency margin, as required by the RBNZ under its licence condition, had been reduced

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Hamish McNicol Thu, 18 Mar 2021
Contact the Writer: Hmcnicol@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
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RBNZ eases Tower’s solvency margin
General Business,
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