TOWER Australia has announced it will change its name to TAL Limited (TAL).
The name change is required because of the pending expiration of TOWER’s five year license agreement with TOWER Limited New Zealand to use the TOWER brand name in Australia.
Jim Minto, TOWER Australia Group Managing Director, said the new name was selected for a number of reasons:
“TAL is sharp and strong and resonates very positively with many of our stakeholders. It is direct and no-nonsense…,” he said.
Mr Minto added the company’s products and services, business strategy and partnerships and management team would remain the same, and its focus on being ‘the specialist voice of life insurance in Australia’ would be unchanged.
TOWER says the new name and brand will be progressively incorporated into the operations of its business up to November 2011 when the current licence to use the TOWER name expires.
TOWER also notes the name change is not related in any way to the recent 100% acquisition of the company by Japanese insurance giant Dai-ichi.
