Challenger's response to Novel Coronavirus


Challenger's response to Novel Coronavirus

20 Mar, 2020

With the Novel Coronavirus (COVID-19) pandemic evolving rapidly around the world, we wanted to assure you that Challenger is monitoring the situation closely and has put in place measures to ensure that our business can continue to operate effectively, and to ensure the health and safety of our employees. 

To help minimise risks associated with the virus, our offices are closed from 23 March until further notice.

Our employees are now working from home and are available via phone and email. 
We have thoroughly tested our business continuity plans and we are confident we are well prepared for a range of scenarios with IT infrastructure and support in place as our employees work from home during this period.

Maintaining our promise to our customers

Challenger annuities are guaranteed by Challenger Life, a Life Company regulated by the Australian Prudential Regulation Authority (APRA). APRA actively monitor our investments to ensure we can continue to meet our promise to our customers both now and into the future.

Challenger holds significantly more capital than the amount required by the regulator. So even if there is an unfortunate event or a share market downturn, investments in a Challenger annuity and future payments are still guaranteed.

We have taken extra precautions and put measures in place to ensure we continue to manage our business effectively through this period. In times like these, our annuities provide our customers with certainty knowing they have a guaranteed income stream in retirement, regardless of how the share markets perform. 

Ensuring the health and safety of our employees

We continue to keep our employees informed on the evolving situation via regular updates, including travel and health advice from the Australian Government and NSW Health.

Meetings with customers, business partners and other external parties are continuing via phone or teleconference. Restrictions have been placed on all domestic and international work-related travel. Employees have also been advised to avoid attending external events and conferences during this period.