Challenger Limited (AU:CGF) has released an update.
Challenger Limited has reported a 6% increase in assets under management for the third quarter, with a notable rise in lifetime annuity sales by 37%, contributing to a total Life sales of $1.7 billion. The company’s strong performance in retirement income products and positive momentum in funds management has led to an upgrade in the FY24 earnings guidance to the higher end of the $555 million to $605 million range. Challenger Limited continues to focus on growing longer-duration, more valuable annuity business, and is set to complete the sale of its banking operations by the end of April, sharpening its focus on its core Life and Funds Management services.
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