TWR - Tower Insurance

[Shareguy]

Dai-ichi Life Life Group's New Zealand subsidiary, Partners Group Holdings, has agreed to acquire 100% of Fidelity Life Assurance Company for NZ$630m

Fidelity Life reported insurance revenue of NZ$459m and pre-tax profit of NZ$24m for the year ended March 2025, while its net assets stood at NZ$221m.

Tower Reported profit YES 2025 $83.7m (up from $74.3m in FY24)
On Gross written premium (GWP): $600m, up 2%. Net assets of $350m

[Ferg]

That's a huge multiple for Fidelity.  There must be more to it.