Life focuses on the retirement spending phase of superannuation by providing products that convert retirement savings into safe and secure income for life.
Challenger Life is Australia’s leading provider of annuities1. Our annuity products appeal to retirees as they provide security and certainty of guaranteed income while protecting against risks from market downturns and inflation. Lifetime annuities protect retirees from the risk of outliving their savings by paying guaranteed income for life.
The retirement incomes we pay are backed by a high-quality investment portfolio, predominantly invested in fixed income. These investments generate regular and predictable investment income we use to fund retirement incomes paid to our customers.
Life is a market leader in Australian retirement incomes, with a 75% annuity market share1, and has won the Association of Financial Advisers, Annuity Provider of the Year, for the last 12 years.
Challenger remains the dominant retirement income brand and is recognised by 93%2 of financial advisers as a leader in retirement incomes.
Life also has an annuity relationship with Mitsui Sumitomo Primary Life Insurance Company Limited, a leading provider of foreign currency annuities in Japan and a subsidiary of MS&AD Insurance Group Holdings Inc.
“This year has been challenging, with volatile investment markets and an uncertain economic outlook as a result of the coronavirus pandemic. We have responded by repositioning the investment portfolio to more defensive settings and raising equity to strengthen our capital position.”
Chris Plater – Chief Executive, Life
Life’s 2020 financial performance
Investment assets ($bn)
Value of assets managed by Life
Impacted by
pandemic
related
market sell-off
Normalised EBIT 3 ($m)
Preferred measure of underlying business performance
Reflects lower returns
from more
defensive
portfolio settings