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Tower Ltd says portfolio transfer to subsidiary of Enstar Group Ltd approved by Federal Court of Australia

Wednesday, 27 Nov 2013 09:24pm EST 

Tower Ltd:Says Federal Court of Australia has approved portfolio transfer for runoff business underwritten by its Australian branch to Gordian RunOff Limited, a subsidiary of Enstar Group.Says completion of the transaction would release approximately NZ$21 million in capital reserves.Says transfer date of Dec. 5 specified by the Federal Court of Australia. 

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