Tower Limited (NZSE:TWR)  will look for acquisitions. Chief Executive Officer, Blair Turnbull said, “Tower is in a strong capital position, and we continue to look at acquisitions, which are sensible and value accretive for shareholders. In the year, we acquired the ANZ legacy portfolio, and we completed the acquisition of the remaining minority shares in National Pacific Insurance.

However, having considered current opportunities and our capital position, the Board felt it would be appropriate to return excess capital to shareholders of $30.4 million, subject to necessary approvals being obtained”.