Tower self reports $3m discount error to FMA
NZX-listed insurer upgrades guidance, but notes provision for $3m of customer remediation.
Tower chief executive Blair Turnbull.
NZX-listed insurer Tower said it proactively advised the Financial Markets Authority of an issue on its calculation of multi-policy discounts, for which it has provided a one-off $3 million provision for customer remediation.
The company today upgraded its earnings guidance, reaffirmed at its
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