National Insurance Ltd

Tower acquires remaining shares in National Pacific Insurance Limited

The business is headquartered in Samoa and serves people across Tonga, American Samoa and Samoa.

In October, Tower purchased an additional 22% stake in NPI from its second largest shareholder for approximately $3.4m or 14.00 Samoan Tala per share, bringing Tower’s total shareholding to over 93%. Following this acquisition, Tower will seek to purchase the remaining shares from minority shareholders, via a compulsory acquisition as allowed under NPI’s governing documents and local laws.