JLG signs first deal with major NZ insurer

Johns Lyng Group (ASX: JLG) has inked a deal to offer building repair services to Tower Insurance on its New Zealand panel, marking JLG's first agreement with a major national insurer in the country. Tower Insurance, a reputable New Zealand brand in operation for over 150 years, is co-listed on the New Zealand and Australian Stock Exchanges.

This collaboration follows JLG's proactive response to Cyclone Gabrielle, which led to severe flooding in the North Island. The initial emergency assistance has transformed into a substantial rebuilding initiative set to extend into 2024. JLG's strategic expansion continues, as it acquired an 80% equity interest in Christchurch-based Mainland Building Services on May 1, 2023, thereby expanding its presence into the South Island.

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