Founded in 1869 as the New Zealand Government Life Insurance Department, Tower has evolved into a modern, publicly listed insurer. The company demutualised and listed on the NZX in 1999, focusing on general insurance after divesting its life and health insurance operations. Today, Tower operates across New Zealand and several Pacific Island nations, including Fiji, Samoa, Tonga, American Samoa, and the Cook Islands. With a customer-centric approach, Tower leverages technology to simplify insurance processes and enhance customer experiences.
Tower Limited (ASX:TWR)
Delivering simple, digital-first insurance solutions across New Zealand and the Pacific.
About Us
Tower Limited is a New Zealand-based general insurer with a legacy spanning over 150 years. Headquartered in Auckland, Tower provides a comprehensive range of personal and commercial insurance products to customers across New Zealand and the Pacific Islands. The company is committed to delivering innovative, digital-first insurance solutions that are simple and rewarding for its customers.
Company Overview
Board & Management
Michael Stiassny
Chairman
Michael holds both a Commerce and Law degree from the University of Auckland and is a Chartered Fellow and past President of the Institute of Directors. Michael has enjoyed a high-profile governance career and is currently Chairman of 2 Cheap Cars Group Limited, and Director of Momentum Life Insurance Limited, Tegel Group Holdings Limited, and New Talisman Gold Mines Limited.
With a keen interest in fostering successful next generation New Zealand businesses, Michael also dedicates significant time to start ups and championing entrepreneurship through his involvement in Founders Advisory.
Mike Cutter
Non-Executive Director
Mike Cutter has extensive governance and executive experience in the financial services sector across New Zealand, Australia, Asia, and Europe. He is currently the Chair of Arteva Funding, a non-executive Director of Pepper Money and, is a co-founder of credit risk management consultancy, Kadre.
Most recently, Mike served as interim managing director for Bambora Australia and group managing director for Equifax ANZ. Previously, he served a number of Australian-based boards including Women's Cancer Foundation, Ovarian Cancer Institute, Australian Financial Congress, National Insurance Brokers Association and the Australian Retail Credit Association. Prior executive roles include CEO of OAMPS Insurance Brokers (now Gallagher), GE Money Australia and New Zealand and, CRO of ANZ Australia.
Mike is based in Melbourne and is a graduate of the Australian Institute of Company Directors and a senior fellow of the Financial Services Institute of Australia. He holds a Bachelor of Science (Hons) from Hertfordshire University.
Marcus Nagel
Non-Executive Director
Marcus has significant insurance industry experience. For a decade he has performed senior leadership roles for Zurich in Europe and globally. In his last role at Zurich, he served as the Chief Executive Officer of Zurich Germany managing both life insurance and general insurance businesses
He has also held the position of Vice Chairman of the joint venture with ADAC, Germany largest Automotive Club, Chairman of the direct insurer DA Direct and Chairman of the life insurer, Zurich Deutscher Herold. Prior to that he also managed the independent financial adviser/broker business for Zurich Global Life.
Marcus holds a Masters Degree in Banking and Finance from Goethe University in Frankfurt, Germany and Master of International Management from the Arizona State University Thunderbird School of Global Management in Arizona, United States of America. Marcus was nominated by Bain Capital Credit LP (Bain Capital) to represent Bain Capital's stake in Tower, and his appointment was supported by the Tower Board.
Geraldine McBride
Non-Executive Director
Geraldine joined the Tower Board effective October 1, 2022. She has extensive governance and technology industry experience, having performed Board and senior leadership roles both in New Zealand and internationally, with Sky Network Television Limited, SAP, Dell, and IBM. Geraldine is the founder and CEO of MyWave.
