Tower Australia Group Ltd. http://www.alacrastore.com/company-snapshot/Tower_Australia_Group_Ltd-2541830 Friday, January 09, 2009 5:49:09 AM 2541830 Tower Australia Group Ltd. en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/spcred/674619spcred/674619normThe latest News from S&Pglobal10/2/2008 4:29:52 AM100News674619AustraliaMulti-line InsurancePacificGlobal IssuersInsuranceNewsMELBOURNE (Standard&Poor's) Oct. 2, 2008--Standard&Poor's Ratings Services said today that it had affirmed its 'A-' counterparty and insurer financial strength ratings on Australian life insurance specialist TOWER Australia Ltd. The outlook remains positive. The rating affirmation follows today's announcement of TOWER Australia's agreement to acquire InsuranceLine Holdings Pty Ltd., a direct distributor of life insurance products. The rating affirmation reflects our expectation that TOWER Australia will maintain a strong financial and operational profile post the transaction. The positive outlook on the ratings is underpinned by favorable trends in the company's premium growth, earnings, and reputation as well as a focus on the growing Australian life insurance sector. This could translate into an upgrade on the companyAUS40301030 403010 4030 40TOWER Australia Ltd.326297PACTWR@NZNEWSGLOBISSINSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/674620spcred/674620normThe latest Research Update from S&Pglobal10/2/2008 4:29:52 AM175Research Update674620AustraliaMulti-line InsurancePacificGlobal IssuersInsuranceResearch UpdateOn Oct. 2, 2008, Standard&Poor's Ratings Services affirmed its 'A-' counterparty and insurer financial strength ratings on Australian life insurance specialist TOWER Australia Ltd. The outlook remains positive. The rating affirmation follows today's announcement of TOWER Australia's agreement to acquire InsuranceLine Holdings Pty Ltd. (not rated), a direct distributor of life insurance products. The rating affirmation reflects our expectation that TOWER Australia will maintain a strong financial and operational profile post the transaction. The acquisition of InsuranceLine expands TOWER Australia's distribution capabilities into the direct non-advice market with full control of the call center resources. There are however risks in terms of possible reputation impact if issues were to arise through integration or ongoing ownership as well asAUS40301030 403010 4030 40TOWER Australia Ltd.326297PACTWR@NZRESUPDGLOBISSINSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/661984spcred/661984normThe latest Full Report from S&Pglobal7/29/2008 2:49:58 AM400Full Report661984AustraliaMulti-line InsurancePacificGlobal IssuersInsuranceFull ReportStrong position as an independent life insurance specialist Strong capitalization with reasonable leverage levels Well positioned to take advantage of the burgeoning Australian life sector Large and well-resourced competitors Risk of contagion from any general economic downturn Although less likely, the rating could be lowered if there were reduced margins and a loss of market share due to competitive pressures or adverse impacts through a prolonged market downturn including weakening of capital and sustained losses.AUS40301030 403010 4030 40TOWER Australia Ltd.326297PACTWR@NZFULLGLOBISSINSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/661985spcred/661985normThe latest Summary from S&Pglobal7/29/2008 2:49:58 AM175Summary661985AustraliaMulti-line InsurancePacificGlobal IssuersInsuranceSummaryThe rating on TOWER Australia Ltd. (TAL; A-/Positive/--) is underpinned by the company's position as the only listed independent life insurance specialist in the country. Apart from having a strong competitive position and brand, the company has achieved favorable trends in premium growth, earnings, and reputation since the separation from its New Zealand counterpart in later 2006. This places it in a good position to take advantage of the growing life insurance sector in Australia. TAL's operations also have improved materially, reflected in the decreasing expense ratios, greater product and service differentiation, and advancements in technology and risk management. Standard&Poor's expects that strong economic and demographic fundamentals in Australia will further support robust growth in the overall lifeAUS40301030 403010 4030 40TOWER Australia Ltd.326297PACTWR@NZSUMMARYGLOBISSINSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/660306spcred/660306normThe latest News from S&Pglobal7/18/2008 4:23:08 AM100News660306AustraliaMulti-line InsurancePacificGlobal IssuersInsuranceNewsMELBOURNE (Standard&Poor's) July 18, 2008—Standard&Poor's Ratings Services said today that it had affirmed its 'A-' counterparty and insurer financial strength ratings on Australian life insurance specialist TOWER Australia Ltd. The outlook on the ratings has been revised upward to positive from stable, reflecting the favorable trends in premium growth, earnings, and reputation that the company has experienced since separating from its New Zealand counterpart in late 2006. This places it in a good position to take advantage of the growing life insurance sector in Australia. "TOWER Australia's operations have improved materially--experiencing decreasing expense ratios, greater product and service differentiation, and advancements in technology and risk management," said Standard&Poor's credit analyst Thomas Cherian. "The improvementsAUS40301030 403010 4030 40TOWER Australia Ltd.326297PACTWR@NZNEWSGLOBISSINSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/660307spcred/660307normThe latest Research Update from S&Pglobal7/18/2008 4:23:08 AM175Research Update660307AustraliaMulti-line InsurancePacificGlobal IssuersInsuranceResearch UpdateOn July 18, 2008, Standard&Poor's Ratings Services affirmed its 'A-' counterparty and insurer financial strength ratings on Australian life insurance specialist TOWER Australia Ltd. The outlook on the ratings has been revised upward to positive from stable, reflecting the favorable trends in premium growth, earnings, and reputation that the company has experienced since separating from its New Zealand counterpart in late 2006. This places it in a good position to take advantage of the growing life insurance sector in Australia. The overall life insurance market continues to grow strongly, underpinned by strong economic and demographic fundamentals in Australia. These include increased household wealth in recent years with rising personal debt levels and acknowledged underinsurance, favorable mortality rates, andAUS40301030 403010 4030 40TOWER Australia Ltd.326297PACTWR@NZRESUPDGLOBISSINSCredit & Investment ResearchS&P Credit Research