Tower becomes TAL Limited
Tower Australia Limited has announced the name change that follows its acquisition by big Japanese insurer, Dai-Ichi: TAL Limited.
Tower, which originated out of a New Zealand Government department selling life insurance policies in 1869, was required to cease using the Tower name in November this year as part of an agreement entered into with the now-separate New Zealand company five years ago.
Commenting on the name change, Tower chief executive Jim Minto (pictured) said he believed the new name was sharp and strong and resonated positively with many stakeholders.
TAL is the code used to define the company on the Australian Securities Exchange (ASX).
“TAL has a close positive association with our company’s strong reputation and performance in the Australian market,” he said.
Minto said the new name would be progressively incorporated into the operations of the business up until November, when the current licence to use the Tower name will expire.
AUTHOR
Mike Taylor
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