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Showing 51 - 60 of 72 results for "Lifetime annuity"

Challenger adds firepower to annuities business

MARK SMITH  |  MONDAY, 25 AUG 2014
... grow its earnings by 6% for the 12 months to June 30. Record retail annuity sales of $2.8 billion (up 28%) and lifetime annuity sales of $613 million (up 139%) brought total annuity funds within Challenger Life to $11.1 billion. "This year our sales ...

Challenger to raise $530m to fund further annuities growth

MARK SMITH  |  WEDNESDAY, 20 AUG 2014
... to $329 million. Statutory profit was $341 million. Record retail annuity sales of $2.8 billion (up 28%) and lifetime annuity sales of $613 million (up 139%) brought total annuity funds within Challenger Life to $11.1 billion. The addition of five new ...

MetLife head of retirement products departs

JAMES FERNYHOUGH  |  THURSDAY, 19 JUN 2014
... lost if the holder dies before a certain age. However, the annuity market dominator Challenger has tweaked its lifetime annuity product to allow members more flexible withdrawal rights, and the product is selling. MetLife Max also included withdrawal ...

Bring on compulsory annuities, says Deloitte partner

JAMES FERNYHOUGH  |  WEDNESDAY, 28 MAY 2014
... Rodney Maddock, who presented the other side of the argument, arguing that the Age Pension already functions as a lifetime annuity. "Having the government take money off you and sticking it in something at 3% which you might get back when you're 85 - ...

Challenger sees sustained interest in lifetime annuities

JAMES FERNYHOUGH  |  WEDNESDAY, 16 APR 2014
... share of retirement savings allocated to guaranteed income products. "Challenger continues to revive Australia's lifetime annuity market with lifetime sales accounting for 30% of total retail annuity sales, up from 20% in the December 2013 quarter. Lifetime ...

LGS to white label MetLife's latest offering

JAMES FERNYHOUGH  |  WEDNESDAY, 5 MAR 2014
... retirement products, MetLife Max. The new offering, which offers accumulation, transition to retirement (TTR) and lifetime annuity products, was unveiled yesterday. LGS chief executive Peter Lambert said the agreement with MetLife was in response to ...

MetLife launches long-awaited retirement product

JAMES FERNYHOUGH  |  TUESDAY, 4 MAR 2014
... "lifetime growth annuity". The first two products are available from age 45; the second two from age 55; and the lifetime annuity from age 60. Head of retirement solutions at MetLife, Ashvin Arora said the suite was designed to appeal to people wanting ...

MetLife poised to enter DLA market

JAMES FERNYHOUGH  |  FRIDAY, 11 OCT 2013
Life insurer MetLife will launch a deferred lifetime annuity into the Australian market if the current legislative and other impediments are removed. Speaking in a panel discussion hosted by the Association of Superannuation Funds of Australia (ASFA) ...

Get longevity risk right on DLAs, warns APRA

JAMES FERNYHOUGH  |  THURSDAY, 10 OCT 2013
... financial risk to an insurer of unanticipated improvements in longevity is proportionally much greater for a deferred lifetime annuity compared with an immediate annuity." Laughlin said APRA would require risks to be "explicitly allowed for in the pricing ...

Challenger stages lifetime annuities comeback

MARK SMITH  |  WEDNESDAY, 19 JUN 2013
... last year that Assets Test Exemption applied. Sales plummeted back to just $24 million in 2005. In 2012 sales of lifetime annuity products totaled just $75 million. Today just two life companies sell the products in Australia: Challenger and CommInsure. ...