27 Jul 2015

Business Briefs

2:22 pm on 27 July 2015

Tower's financial strength affirmed

The ratings agency, AM Best, has affirmed Tower's financial strength.

Tower's issuer credit rating stands at A-minus.

AM Best says the insurance firm's rating reflects its good operating performance.

It says that is also supported by Tower's adequate underwriting leverage, prudent reinsurance arrangements and conservative investments.

Winter electricity demand up

Contact Energy says electricity demand has risen in both North and South Islands, as the chilly wintry weather takes hold.

It says demand jumped 2.8 percent in June when compared with the same month last year.

Contact says storage lakes were also fuller when compared with May.

Bethunes Investments share trading halted

NZX says it has placed a trading halt on shares in Bethunes Investments at the request of the company.

Bethunes is set to make an announcement to investors.