ASX-listed general insurer Tower anticipates full-year underlying net profit after tax for the year ending Sept. 30 to be at or above the previously indicated range of $22 million to $27 million.

The increased guidance is attributed to robust trading results in the first four months, with positive growth in gross written premium and better-than-expected claims performance.

Tower expects to meet or surpass its gross written premium and combined operating ratio guidance for FY24.