Michael Stiassny

29 Jun 17, 3:37pm
Fairfax Financial Holdings leaves Aussie insurer to bid for an even larger share of the New Zealand insurance market
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27 Jun 17, 3:42pm
Suncorp's Vero to buy all of Tower's shares for $1.40 each pending shareholder and regulatory approval; Canadian giant outbid in battle for struggling insurer
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24 May 17, 2:53pm
Tower gets $30 million cash advance from BNZ as quake costs see it only $5 million away from breaching the RBNZ solvency requirements
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30 Mar 17, 3:53pm
Michael Stiassny says bidders eyeing a Tower takeover will need to pay at least $1.40 per share; Says the Board's considering a capital raising
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22 Feb 17, 9:48am
New Zealand's second largest general insurer aims to increase its market share to 30%, offering to pay more than 'Canada's Berkshire Hathaway' to buy Tower
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18 Feb 17, 7:30am
Cameron Preston crunches the numbers to explore whether it is Tower or NZ's insurance system that is 'broken'
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17 Feb 17, 1:58pm
A.M. Best places Tower's credit rating under review pending its sale to Fairfax Financial Holdings; Says it will consider the extent of Fairfax’s 'financial support' to determine a rating
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13 Feb 17, 12:19pm
Tower Chairman says the company would have a higher sale price if the EQC system wasn't 'broken'; Government says the law has nothing to do with the risk the insurer takes on
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9 Feb 17, 1:07pm
Tower board, major shareholders back $197 million takeover bid from Canada's Fairfax Financial Holdings; Tower's share price rises as trading resumes
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9 Feb 17, 11:26am
Tower shares in trading halt ahead of 'announcement'; Reports the insurer has received a take-private proposal from Fairfax Financial Holdings
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6 Dec 16, 10:02am
Government confirms it has not been approached by Tower as the insurer seeks capital to ring-fence its quake-related business; Forsyth Barr expects Tower to sell 'RunOff Co'
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6 Dec 16, 5:02am
Insurance lawyer bites back at Tower chairman for slagging the litigation industry, he claims 'sprung up to agitate disenfranchised customers to demand not just fair resolution, but a windfall'
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29 Nov 16, 9:51am
Tower announces plan to ring fence troublesome quake claims; says industry model is 'broken'; widens loss to $21.5 million; share price at record low
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24 May 16, 1:44pm
Tower receives 155 new Canterbury quake claims from EQC in six months to March; increases quake provisions by $2.9m; widens loss to $8.7m
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24 Nov 15, 12:41pm
Tower suffers $7m loss as it increases its Canterbury quakes provisions by $53m; Business grows otherwise with underlying profit up 30%
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26 May 15, 3:11pm
Higher premium prices and lower claim payouts fail to cover Tower for Canterbury quake claims cost blowout
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5 Feb 14, 2:48pm
Tower chairman Michael Stiassny says IAG taking over Lumley would create significant risk in event of another Canterbury quake scenario
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17 Jun 13, 9:53am
MediaWorks in receivership after lenders including Westpac fail to reach recapitalisation deal
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20 Dec 11, 4:14pm
ProvencoCadmus staff to continue battle with ANZ for NZ$1.6 mln in preferential employee claims after receivership
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14 Nov 11, 4:08pm
ANZ, with annual profit of NZ$1 bln, fights ProvencoCadmus staff for NZ$1.6 mln after tipping company into receivership
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