FINWIRES · TerminalLIVE
FINWIRES

Tower Completes Fiscal 2027 Reinsurance Program Renewal

By

Tower (NZE:TWR, ASX:TWR) completed the renewal of its reinsurance program for the financial year ending Sept. 30, 2027, according to a Monday filing with the New Zealand and Australian bourses.

The fiscal 2027 reinsurance program includes an increased catastrophe upper limit to NZ$970 million from NZ$915 million in fiscal 2026, an improved structure for the third catastrophe limit, supporting efficiency while increasing cover to NZ$100 million from NZ$85 million, and unchanged catastrophe event excesses at NZ$20 million, the filing said.

The company expects its fiscal 2027 reinsurance premium expense to represent 9.5% of gross written premium, down from nearly 11% in fiscal 2026, per the filing.

What else is happening in Asia?

Asia

Newlink Technology's Potential Acquisition of HK Ant Global Investment Falls Through

Newlink Technology (HKG:9600) terminated a memorandum of intent for the potential acquisition of HK Ant Global Investment.The parties had entered the memorandum in May, a Friday bourse filing showed.

HKG:9600
Asia

New Concepts Raises HK$4.9 Million from Share Issue

New Concepts Holdings (HKG:2221) completed the issue of 5 million new shares to Du Lei to raise net proceeds of nearly HK$4.9 million.The parties had entered into the share subscription agreement earlier in September, a Friday bourse filing showed.The construction company plans to use proceeds for general working capital.

HKG:2221
Asia

Eternity Investment Unit, Director Dispose Of Stake in China Healthwise

Eternity Investment (HKG:0764) unit Eternity Finance and executive director Lei Hong Wai agreed to sell around 169 million and 18.7 million respective shares in China Healthwise (HKG:0348).The shares, representing an 18.3% and 2% stake in China Healthwise, respectively, were sold to Hwa Sheng International Investment at HK$0.08 apiece, a Friday bourse filing showed.The company will receive a consideration of around HK$13.5 million from the disposal and cease to hold any stake in China Healthwise following completion.Proceeds will be used to repay a margin loan, as well as for general working capital.

HKG:0348HKG:0764