Feb 22 (Reuters) - Tower Ltd TWR.NZ :
* Tower notes Suncorp unsolicited off-market share offer
* Suncorp Group acting through UBS, have approached shareholders seeking to initially buy up to a 19.99% stake in Tower
* Offer at a fixed price of NZ$1.30 per share, with a view to escalating the offer to 100% of all shares
* Board also reiterated that Tower insurance policies and the rights of policy holders remain unaffected
* All policies and rights will remain with Tower Insurance Limited in event of a change in ownership of Tower Limited
* Tower Chairman Michael Stiassny says board's advice to shareholders was to seek advice and not to sell their shares until board had fully reviewed offer Source text for Eikon: Further company coverage: TWR.NZ