Former policyholders to miss out on shares

Around 140,000 former Tower policyholders in New Zealand and Australia are running out of time to claim NZ$49mn (US$22mn) of shares in the investment and insurance company. Following the demutualisation of the former Government Life NZ office in 1999, there were 28.6mn unclaimed shares that were placed in Tower Safe Trust to be held on behalf of policyholders.