Tower updates FY26 guidance

• Tower revises FY26 NPAT guidance to $69m-$79m
• Uplift due to $45m large event allowance not fully utilized
• Customer numbers up by 8% to 345,000
• GWP growth at 3%, in line with guidance
• Full FY26 results on 26 November

Tower Ltd, a Kiwi insurer, has updated its FY26 underlying net profit after tax (underlying NPAT) guidance for the year ending 30 September 2026. The revised guidance now expects underlying NPAT to be between $69m and $79m, up from the previous range of $55m to $65m. This adjustment reflects the $45m large event allowance not being fully utilized, with only $25m in large event claim costs recorded for the year. The expected FY26 result shows a return to a more typical earnings profile after the unusually favorable weather conditions and claims experience of FY25. Customer growth remains robust, with an 8% increase in customer numbers to 345,000, driven by growth in New Zealand home insurance policies and new partnerships. Gross written premium (GWP) growth is at 3%, in line with the low single-digit growth guidance. Tower will release full details of its FY26 performance with its financial results announcement on 26 November.

Tower Ltd expects FY26 underlying NPAT between $69m and $79m.

Tower anticipates a return to a more typical earnings profile in FY26, following an exceptionally strong FY25.