20 December 2000
TOWER Health has merged the operations of TOWER Health and AXA Health and today (subs 20 December) has a new management
team, a month after the announcement of the $16 million buy-out.
Managing director, Jim Minto, said TOWER Health has acted quickly and is now positioned to take a major role in health
and life insurance in New Zealand. Settlement of the AXA Health purchase was completed on 1 December and both companies
have since been trading under the TOWER Health brand.
“We have a strong management team with the best talent of both companies and are taking an aggressive stance in the
market with a range of new products to be announced in February.
“As TOWER is a leader in the financial sector, we are taking that position in health insurance, income protection and
life insurance. We are also keenly awaiting the outcome of the Commerce Commission’s decision regarding Aetna customers.
“Medical and health insurance is highly competitive. We have heard of the increases in medical costs brought about
mainly because of more operations taking place and new medical technology. Escalation in premiums now seems to be a
regular occurrence. We know that consumers need more choices, we will provide them and ensure that health insurance is a
viable option for New Zealanders,” said Jim Minto.
Jeff Page retains his position as general manager sales and distribution. Head of marketing is Shaun Williams,
previously marketing manager for AXA Health; Judy King is head of operations, previously operations manager for AXA
Health.
Ed Saul, chief information officer; Debbie Eyre, head of integration; and Tim Smart, head of risk management services,
were TOWER Health managers in similar roles.
The position of chief financial officer is currently being advertised.
ends