Posted By Staff Reporter
TOWER Insurance has sold its Papua New Guinea operations to locally-based insurer, Alpha Insurance Ltd, an official says. Tower chief executive officer Blair Turnbull said the company was pleased to have operated in the country for many years. As part of the acquisition, all local Tower PNG staff will be employed by Alpha on the same or improved terms and conditions. “We have enjoyed our connection to Papua New Guinea’s people and culture over many years,” he said. “On behalf of Tower, I would like to extend our sincere thanks to our PNG staff and customers for their support and loyalty.
“We are pleased that our customers will now be served by a larger team in PNG and will have access to Alpha Insurance’s extended product range.” Alpha Insurance has operated in PNG since 1976, providing a range of personal and business insurance products to the local market. Alpha Insurance managing director Bruce Avenell said his company was looking forward to welcoming the new staff and customers to the Alpha Group and to their comprehensive range of insurance products. “We know Tower has many long-term and loyal customers who are very important to us, and we look forward to continuing our relationship with them,” he said. “Tower’s PNG employees will also be warmly welcomed by the Alpha Group.” Customers will begin transitioning to Alpha Insurance branded policies over a three-month period from the sale completion date, which is expected to be within the second half of 2022, subject to regulatory approvals. As customers’ policy terms and conditions will remain unchanged until the next renewal date, no action is required by customers. Statement/TheNational/PNGEconomyWatch Next : PNG Economic Future ‘Uncertain’ Comments are closed.
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