“While some of these factors are beyond our control, the fundamentals underpinning our business remain supportive. We continue to target a growing market of retirees, we have the leading retirement income brand in the country and our capital position remains very strong.

“Our resilient position is well demonstrated by the solid domestic annuity sales we achieved in the half. Australian annuity sales were up 4 per cent on the same period last year, reflecting the continued demand from retirees for our products.”

Challenger downgraded its earnings in January this year, citing market volatility.

More to come.

Challenger’s interim financial results. 

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