Tower signals single group life system
TowerAustralia has signalled it wants to move to a single group life system by the end of this year and overhaul and consolidate its underlying computer systems by 2009.
The company outlined the strategy this week as it detailed the arrangement for the geographic separation of the Australian and New Zealand businesses.
The company also announced that the launch of new retail and corporate superannuation offerings would be a key part of its business strategy.
It said that its new retail and corporate superannuation investment offerings would be launched through aligned distributions and independent financial advisers.
With respect to its underlying computer systems, the company said it was targeting the migration of six core IT systems into two by 2009.
The company said the rationale behind its de-merger was that the geographically separated Australian and New Zealand operations were expected to grow faster with focused strategies, simpler and easier to value businesses, and stronger balance sheets.
AUTHOR
Mike Taylor
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