Tower and Westpac NZ form strategic insurance partnership

Kiwi insurer Tower announced a new partnership with Westpac NZ, commencing in July 2026, to provide general insurance products to the bank's retail customers. Under the five-year agreement, Tower will underwrite and supply various insurance products, including house, contents, motor, and landlord coverage, which Westpac will offer under its own brand. Additionally, a referral arrangement will be established for Tower's broader suite of insurance offerings.

This collaboration is expected to integrate data-driven insurance experiences into Westpac's digital banking, enabling customers to purchase, manage, and claim policies online, and access Tower's risk-based pricing. Tower chief executive Paul Johnston highlighted that this long-term agreement supports Tower's strategic focus on growing its home insurance portfolio and is projected to contribute to an FY27 target of achieving 10% to 15% growth. The partnership does not require regulatory approvals to proceed.