Challenger Annuity Sales Double

Australia's largest annuity company, Challenger, reported record sales for the most recent quarter and increased its full year sales target by 28.5 percent.

Challenger increased its forward-looking annual sales target from $1.4 billion to $1.8 billion.

The company attributes part of the sales upsurge to a $5 million advertising campaign that was launchded this past February.  The ad campaign focused on retail annuity sales.

According to an article in The Australian:

"Challenger expects life annuities to be its growth engine for at least the next decade, with Australians expected to warm to the benefits of lower-risk fixed interest retirement income."


Source: The Australian

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