Tower Limited is required to maintain capital in excess of the minimum solvency capital requirement specified by the Reserve Bank of New Zealand (RBNZ). Solvency calculations were performed as at 31 March 2023 in accordance with the Solvency Standard for Non-life Insurance Business issued by the RBNZ. Tower Limited submitted its Solvency Return to the RBNZ by 31 July 2023 as required under the Insurance (Prudential Supervision) Act 2010.
TL Parent (Solo)
TL Group (Consolidated)
|Actual Solvency Capital||$126.1m||$156.0m|
|Minimum Solvency Capital||$101.1m||$108.2m|