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Shareholder Review

Annual Report

Notice of Meeting

 

CONTENTS

FROM THE CHAIRMAN 1
FROM THE MANAGING DIRECTOR 2
DIRECTORS' REPORT 4
AUDITOR'S INDEPENDENCE
DECLARATION 18
CORPORATE GOVERNANCE 19
INCOME STATEMENTS 25
BALANCE SHEETS 26
STATEMENTS OF CHANGES
IN EQUITY 27
STATEMENTS OF CASH FLOWS 28
NOTES TO THE FINANCIAL
STATEMENTS
1. Summary of significant
accounting policies 29
2. Critical accounting
judgements and estimates 35
3. Premium revenue 36
4. Investment income 36
5. Fee and other revenue 36
6. Claims expense 37
7. Expenses 37
8. Taxation 38
9. Cash and cash equivalents 39
10. Non-cash investing and
financing activities 40
11. Receivables 40
12. Financial assets at fair value
through profit or loss 41
13. Other Financial Assets 41
14. Deferred acquisition costs
for non-life insurance contracts 42
15. Plant and equipment 43
16. Intangible assets 43
17. Payables 44
18. Provisions 44
19. Outstanding claims - life insurance 45
20. Interest bearing liabilities 45
21. Other liabilities 45
22. Deferred revenue liability 45
23. Operating leases 46
24. Contingent liabilities 46
25. Contributed equity 47
26. Earnings per share 47
27. Reserves and retained profits 48
28. Dividends to shareholders 48
29. Segmental reporting 49
30. Risk management 50
31. Life insurance business 52
32. Financial instrument information 59
33. Disclosures on asset restrictions
and managed assets 63
34. Guaranteed returns on funds
invested 63
35. Investment linked and
non-investment linked business
of life insurance company 64
36. Related parties transactions 64
37. Key management personnel
disclosures 65
38. Share based payment 66
39. Acquisitions 67
40. Subsequent events 67
DIRECTORS' DECLARATION 69
INDEPENDENT AUDITORS'
REPORT TO THE MEMBERS
OF TOWER AUSTRALIA
GROUP LIMITED 70
SHAREHOLDER INFORMATION 72
INFORMATION FOR
SHAREHOLDERS IBC

TOWER AUSTRALIA GROUP LIMITED IS THE 4TH LARGEST LIFE INSURANCE COMPANY IN AUSTRALIA WITH AN 11% MARKET SHARE BASED ON IN-FORCE PREMIUMS. IT HAS A BROAD, DIVERSIFIED LIFE INSURANCE DISTRIBUTION CAPABILITY IN THE AUSTRALIAN MARKET THROUGH INDEPENDENT FINANCIAL ADVISERS, ALIGNED ADVISERS, ALLIANCE PARTNERS, GROUP SCHEMES AND DIRECT TO CUSTOMERS. TOWER AUSTRALIA (ASX: TAL) IS THE ONLY ASX LISTED SPECIALIST LIFE INSURANCE COMPANY.

ANNUAL GENERAL MEETING

The Annual General Meeting of TOWER Australia Group Limited will be held at The Barnet Long Room, Customs House, Level 1, 31 Alfred Street, Circular Quay, Sydney, Australia on Wednesday 11 February 2009 commencing at 10.00am.
Details of the business of the meeting are contained in the Notice of Meeting & Explanatory Memorandum.

KEY DATES FOR SHAREHOLDERS

The following table sets out the key forthcoming dates of interest to shareholders. If there are any changes to these dates, the ASX will be notified.
Date Event
2 January 2009 Record Date for 2008 Dividend
19 January 2009 Payment Date for 2008 Dividend
11 February 2009 Annual General Meeting in Sydney

 

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Jump to content

Shareholder Review

Annual Report

Notice of Meeting

 

CONTENTS

FROM THE CHAIRMAN 1
FROM THE MANAGING DIRECTOR 2
DIRECTORS' REPORT 4
AUDITOR'S INDEPENDENCE
DECLARATION 18
CORPORATE GOVERNANCE 19
INCOME STATEMENTS 25
BALANCE SHEETS 26
STATEMENTS OF CHANGES
IN EQUITY 27
STATEMENTS OF CASH FLOWS 28
NOTES TO THE FINANCIAL
STATEMENTS
1. Summary of significant
accounting policies 29
2. Critical accounting
judgements and estimates 35
3. Premium revenue 36
4. Investment income 36
5. Fee and other revenue 36
6. Claims expense 37
7. Expenses 37
8. Taxation 38
9. Cash and cash equivalents 39
10. Non-cash investing and
financing activities 40
11. Receivables 40
12. Financial assets at fair value
through profit or loss 41
13. Other Financial Assets 41
14. Deferred acquisition costs
for non-life insurance contracts 42
15. Plant and equipment 43
16. Intangible assets 43
17. Payables 44
18. Provisions 44
19. Outstanding claims - life insurance 45
20. Interest bearing liabilities 45
21. Other liabilities 45
22. Deferred revenue liability 45
23. Operating leases 46
24. Contingent liabilities 46
25. Contributed equity 47
26. Earnings per share 47
27. Reserves and retained profits 48
28. Dividends to shareholders 48
29. Segmental reporting 49
30. Risk management 50
31. Life insurance business 52
32. Financial instrument information 59
33. Disclosures on asset restrictions
and managed assets 63
34. Guaranteed returns on funds
invested 63
35. Investment linked and
non-investment linked business
of life insurance company 64
36. Related parties transactions 64
37. Key management personnel
disclosures 65
38. Share based payment 66
39. Acquisitions 67
40. Subsequent events 67
DIRECTORS' DECLARATION 69
INDEPENDENT AUDITORS'
REPORT TO THE MEMBERS
OF TOWER AUSTRALIA
GROUP LIMITED 70
SHAREHOLDER INFORMATION 72
INFORMATION FOR
SHAREHOLDERS IBC

TOWER AUSTRALIA GROUP LIMITED IS THE 4TH LARGEST LIFE INSURANCE COMPANY IN AUSTRALIA WITH AN 11% MARKET SHARE BASED ON IN-FORCE PREMIUMS. IT HAS A BROAD, DIVERSIFIED LIFE INSURANCE DISTRIBUTION CAPABILITY IN THE AUSTRALIAN MARKET THROUGH INDEPENDENT FINANCIAL ADVISERS, ALIGNED ADVISERS, ALLIANCE PARTNERS, GROUP SCHEMES AND DIRECT TO CUSTOMERS. TOWER AUSTRALIA (ASX: TAL) IS THE ONLY ASX LISTED SPECIALIST LIFE INSURANCE COMPANY.

ANNUAL GENERAL MEETING

The Annual General Meeting of TOWER Australia Group Limited will be held at The Barnet Long Room, Customs House, Level 1, 31 Alfred Street, Circular Quay, Sydney, Australia on Wednesday 11 February 2009 commencing at 10.00am.
Details of the business of the meeting are contained in the Notice of Meeting & Explanatory Memorandum.

KEY DATES FOR SHAREHOLDERS

The following table sets out the key forthcoming dates of interest to shareholders. If there are any changes to these dates, the ASX will be notified.
Date Event
2 January 2009 Record Date for 2008 Dividend
19 January 2009 Payment Date for 2008 Dividend
11 February 2009 Annual General Meeting in Sydney

 

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