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How to buy Tower shares (TWR)

Want to buy Tower shares on the NZX? Keep reading to find out how.

Tower Limited is a New Zealand-based general insurer that offers car, house, contents and other types of insurance. If you’d like to buy shares in the company on New Zealand’s Exchange (NZX), we’ll provide step-by-step instructions on how to buy TWR shares in this guide.

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How to buy shares in Tower on the New Zealand Exchange

  1. Compare share trading platforms. If you’re a beginner, look for a platform with low commissions, expert ratings and investment tools to track your portfolio. Narrow down top brands with our comparison table. Most importantly, you need to find a share trading platform that allows you to trade on the NZX.
  2. Open and fund your share trading account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
  3. Search for Tower. Find the stock by name or ticker symbol: TWR. Research its history to confirm it’s a solid investment against your financial goals.
  4. Purchase now or later. Buy today with a market order or use a limit order to delay your purchase until Tower reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
  5. Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimise risk through the market’s ups and downs. You may be able to buy a fractional share of Air Tower, depending on your share trading account.
  6. Check in on your investment. Congratulations, you own a part of Tower. Optimise your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.

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Tower overview and background

Tower can trace its history back to 1869 and the creation of the Government Life Insurance Office. Government Life was renamed Tower Corporation in the 1980s and became a mutual association in 1990. However, it was demutualised in 1999 and became a shareholder-owned company.

Today, Tower Limited offers a range of general insurance products to customers in New Zealand and the Pacific Islands. These include car, house, contents, business and travel insurance, plus cover for motorbikes, bikes, boats and more.

Tower shares (TWR) are listed on the NZX and the Australian Securities Exchange (ASX).

Performance and company results

In its 2020 annual report, Tower Limited announced the following key financial results:

  • Reported profit of $12.3 million (down from $16.8 million in the previous year)
  • Underlying net profit after tax of $28.4 million (up from $27.4 million in the previous year)
  • Customer numbers increased 11% to 300,000
  • 8% increase in gross written premiums to $385 million

Key details

NameTower LimitedIndustryInsurance—Diversified
Ticker symbolTWRISINNZTWRE0011S2
TypeOrdinary SharesDate listed on NZX28 Sep 1999
End of financial yearSeptemberChief executive officerBlair Turnbull
Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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