Tower braces for $16.2m...due to it spending more on litigation and over-cap EQC claims; Share price hits 12-year low

Tower is warning its shareholders it expects its profit after tax to take a $16.2 million hit, as it engages in more court action and receives additional claims from the Earthquake Commission (EQC), six years on from the Canterbury quakes.  

Interest.co.nz | Jenée Tibshraeny | 8th September 2016

Article: http://www.interest.co.nz/insurance/83492/tower-braces-162m-drop-net-profit-deloitte-tells-it-hike-its-canterbury-quakes