TOWER Life sale a boon for some
Friday, September 20th 2013, 11:37AM
TOWER says it intends pay shareholders at least $70 million initially following the sale of the majority of its life insurance business to Fidelity Life.
Chief executive David Hancock said TOWER remained committed to returning a total of $114.5 million to shareholders as and when was appropriate.
He said this first payment can happen now minimum solvency margin requirements are confirmed.
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