Guinness Peat Group

Tower Australia LimitedPrefsure Acquisition In January 2006, Tower Australia acquired PrefSure for $A145million.GPGPrefSure is a specialist Life Insurance business with in-force premiums of$A320million.Well positioned in newest growth sector of the market, providing life insuranceproducts to alliance partners who sell these products direct to customers viamedia, mortgage brokers, financial planners, health insurers and direct mail.The underinsurance gap in Australia is estimated to be over $A1.3trillion in TermLife Insurance alone. PrefSure will add to Tower’s pre-existing competitiveproducts and strong market position to exploit future growth opportunities.11