Tower Insurance Ltd Solomon Islands has presented $256,400 in profit share to ANZ Bank.
TOWER are the underwriters of ANZ Insurance who sell mainly the domestic lines of insurance policies which include house, contents, motor, travel and (small) loan insurance throughout the ANZ branch network in the Solomon Islands.
The profit share made by TOWER is in recognition of the favourable ANZ Insurance business conducted in the 2013/2014 TOWER financial year.
The profit share is calculated on the gross premium received through ANZ Insurance less claims paid out in the year.
ANZ Insurance was come out relatively unaffected by the 2014 April floods, contributing to a strong performance.
In making the presentation, TOWER Insurance Country Manager, Jeremy Masalo expressed satisfaction for the work ANZ had done in the previous financial year and deserved this great result.
ANZ Regional CEO Solomon Islands & Timor Lester, Geoffrey Buchanan in receiving the cheque was pleasantly surprised with the amount of the cheque and was confident the relationship between both companies could only get stronger.
He further stated that you would like to see ANZ support TOWER more to see further growth in this Agency in the coming year.
TOWER and ANZ have a similar relationship throughout the Pacific Islands in PNG, Fiji, Tonga, Samoa, American Samoa and Cook Islands.