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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