GENERAL: TWR: Court of Appeal confirms TOWER's right to continue insuring

25 Jun 2010 2:16 pm

TWR 25/06/2010 GENERAL

REL: 1416 HRS Tower Limited

GENERAL: TWR: Court of Appeal confirms TOWER's right to continue insuring

Court of Appeal confirms TOWER's right to continue insuring ANZ National customers

Today the Court of Appeal announced it upheld Justice Wylie's High Court decision of 11 March 2009 confirming TOWER Insurance Limited's right to renew policies sold through ANZ and National Banks.

TOWER Managing Director Rob Flannagan said "We are very pleased with this decision which confirms the terms of the agency agreements between TOWER and ANZ National Bank. Our concern has always been to protect the interests of our customers. We take this opportunity to reassure customers that they will continue to benefit from their existing relationship with TOWER Insurance."

In its judgment, the Court of Appeal also ruled that TOWER is obliged to release customers' private and confidential information to ANZ National Bank Ltd. TOWER will be challenging this aspect of the judgement.

For further information, please contact Rob Flannagan Group Managing Director 09 369 2057 End CA:00196543 For:TWR Type:GENERAL Time:2010-06-25:14:16:15

More announcements for TWR