Tower along with the ANZ National Bank's has settled down a 18 month long dispute and has finally agreed to renew the insurance policies of the customer of the bank. This settlement will lead Tower to face a competition with Vero Insurance New Zealand for the bank policyholders.

Tower will now continue with the action of renewing the policies sold the customer of the bank after High Court ruled the order in favour of the firm.

"The dispute went on for a long time along with the appeals down by the firm and counter appeal and successfully came to an end when both the party decided to call up the dispute" said Rob Flannagan, the managing director of Tower.

The agreement in between the two parties went in the interest of everyone and the settlement did not carried any dramatic action and come to an end for the upcoming years.

ANZ National Bank had tried to restrict Tower from renewing the policies of the banks customer and transfer it to its other partner but after the successfully appeal of the firm and the court decision in favour of the firm, a agreement was made between the two for the next coming years.