Tower Australia changes name to TAL

Tower Australia Group Limited (TOWER Australia), one of our nations biggest life insurance company's, has recently announced it will be changing its name to TAL.

This name change follows after Tower Australia's separation and de-merger, and the resulting expiration of a five-year agreement with Tower New Zealand to use the TOWER name in Australia.

While this change will not formally take place until November 2011, the early announcement will provide the company and the industry time to ensure a smooth transition.

Tower Australia has stated it will be business as usual, with the company's products and services remaining the same.

Mr Jim Minto, Tower Australia Group Managing Director said the TAL name was selected for a number of reasons.

"TAL is sharp and strong and resonates very positively with many of our stakeholders. It is direct and no-nonsense - qualities embodied in our products and services, our relationships and in our approach to taking life insurance personally."

Mr Minto also stated that the company's focus on being 'the specialist voice of life insurance in Australia' would also be unchanged.

Tower Australia has also stated that the name change is not related in any way to the recent 100% acquisition of the company by Japanese insurance giant Dai-ichi.

Will my Tower Life Insurance Policy be affected?

Tower Australia has assured that the name change will not materially affect policy-holders in any way.

TAL will be slowly introduced into the operations of the business up until November, with Tower Insurance staff and business partners are assured they will be fully supported in making a smooth transition.

May 2011