Tower's New Bull Likes Leverage to Pricing Recovery -- Market Talk
Dow Jones2026/10/07 01:060106 GMT - Tower gets a new bull in Forsyth Barr, which has greater confidence in the general insurer's partnership-led growth and leverage to a recovery in pricing. Tower this week upgraded its FY26 underlying net profit outlook to NZ$69 million-NZ$79 million. That's 23% above the midpoint of earlier guidance. Analyst James Lindsay says gross written premium growth of 3% beat his expectations. It suggests stronger-than-expected 2H momentum from organic and partnership-led customer growth. "Given our expectations for risk-mix impacts to moderate through 1H27 and previous analysis suggesting the New Zealand insurance pricing cycle could be approaching trough levels, our confidence in Tower's growth outlook has improved," Forsyth Barr says. It upgrades the stock to outperform, from neutral. (david.winning@wsj.com; @dwinningWSJ) (END) Dow Jones Newswires October 06, 2026 21:06 ET (01:06 GMT)
0106 GMT - Tower gets a new bull in Forsyth Barr, which has greater confidence in the general insurer's partnership-led growth and leverage to a recovery in pricing. Tower this week upgraded its FY26 underlying net profit outlook to NZ$69 million-NZ$79 million. That's 23% above the midpoint of earlier guidance. Analyst James Lindsay says gross written premium growth of 3% beat his expectations. It suggests stronger-than-expected 2H momentum from organic and partnership-led customer growth. "Given our expectations for risk-mix impacts to moderate through 1H27 and previous analysis suggesting the New Zealand insurance pricing cycle could be approaching trough levels, our confidence in Tower's growth outlook has improved," Forsyth Barr says. It upgrades the stock to outperform, from neutral. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
October 06, 2026 21:06 ET (01:06 GMT)
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