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Strong result for Tower
By Mike Taylor
Tower Australia Group has reported an 81 per cent increase in net profit after tax of $30.9 million for the six months to March 31, 2008.
Tower managing director Jim Minto said the first half result reflected a continued improvement in the financial performance of the group.
“While we face tighter economic times today, many people are also realising that life insurance is very important and provides people with protection and assurance,” he said. “We have continued to see sound growth, and with prudent management, an improved result. Claims have been within expectations and the overall life market remains positive.”
Minto said he believes the group is competitively well placed and is continuing to invest in building new technology capability in the Group Life sector, which he believes will differentiate the business.
29 May 2008
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