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earthquake provisions

Tower uses bank loan to stay afloat
Tower gets $30 million cash advance from BNZ as quake costs see it only $5 million away from breaching the RBNZ solvency requirements
by Jenée Tibshraeny
11
Tower gets $30 million cash advance from BNZ as quake costs see it only $5 million away from breaching the RBNZ solvency requirements
Legal dispute puts nearly $50m of Tower's reinsurance at risk
Tower upsets a reinsurer by allegedly catching it 'off-guard' in its haste to secure desperately needed cash
by Jenée Tibshraeny
5
Tower upsets a reinsurer by allegedly catching it 'off-guard' in its haste to secure desperately needed cash
Tower in dangerously hot water
Tower braces for $16.2m drop in net profit as Deloitte tells it to hike its Canterbury quake provisions due to it spending more on litigation and over-cap EQC claims; Share price hits 12-year low
by Jenée Tibshraeny
7
Tower braces for $16.2m drop in net profit as Deloitte tells it to hike its Canterbury quake provisions due to it spending more on litigation and over-cap EQC claims; Share price hits 12-year low