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Tower loses CFO after 16 months

NZN 18/07/2016

Tower chief financial officer Brett Wilson has resigned 16 months after the general insurer lured him across from Seniors Money International.

Mr Wilson will remain in the role until a replacement is found, says chief executive Richard Harding.

Tower widened its loss in its first half after taking an impairment charge against its IT system, which it is in the process of simplifying, while premium income was little changed and claims rose.

The Auckland-based insurer's shares have declined 27 per cent this year and last traded at $1.385.

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