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Showing 1 - 10 of 19 results for "Total Life"

Challenger posts record annuity sales

CASSANDRA BALDINI  |  TUESDAY, 17 OCT 2023
Challenger reported Total Life sales for the first quarter reached $2.8 billion, primarily driven by record annuity sales, contributing to substantial growth in its book value. The investment manager said annuity sales jumped by 17% to $2.1 billion ...

Challenger reports strong retail annuity sales

ANDREW MCKEAN  |  THURSDAY, 20 APR 2023
... ASX announcement, Challenger reported a significant uptick in retail annuity sales in quarter three. Challenger's total Life sales were $2 billion, reflecting strong retail and Japanese sales. However, institutional sales ($1 billion) fell by 50%. ...

Challenger reports strong results

ANDREW MCKEAN  |  TUESDAY, 14 FEB 2023
... credit spreads widening. Higher interest rates have also helped drive margin expansion and demand for annuity sales. Total Life sales were up 11% to $5.5 billion, driven by "exceptional" growth in retail annuity sales; up 89% to $2.1 billion. Retail ...

Challenger expects to reach full-year profit guidance

ANDREW MCKEAN  |  FRIDAY, 22 APR 2022
... $480 million 2022 financial year guidance range. This positive guidance was driven by a 10% or$2.7 billion increase in total life sales. On the results, Challenger managing director and chief executive Nick Hamilton said: "This quarter, our business ...

QSuper pokes holes in YFYS legislation

KANIKA SOOD  |  FRIDAY, 26 MAR 2021
QSuper says the Your Future, Your Super bill's proposals may result in higher operational costs at superannuation funds and delays in decision-making, alongside less talent for their boards. In its submission to the YFYS consultation, the industry ...

Life insurer profitably improving: APRA

KARREN VERGARA  |  FRIDAY, 2 MAR 2018
... disability income insurance product group.) The industry reported after-tax profit of $2.4 billion, up 5.6% year-on-year. Total life insurance assets inched 3.2% to $232.5 billion?year-on-year. Return on net assets was flat at 9.3%. In December 2017 ...

ANZ sells life insurance business for $2.85 billion

ALEX BURKE  |  TUESDAY, 12 DEC 2017
... mortgage insurance, general insurance distribution and financial planning arms. ANZ noted that as at 30 September 2017, total life in-force premiums were $1.7 billion. The annual profit of the life insurance business is $189 million on a pro forma cash ...

Landmark advice reforms pass Senate

EMMA RAPAPORT  |  FRIDAY, 10 FEB 2017
... Brad Fox welcomed the reforms saying they will level the playing field for advisers who arrange more than half of the total life insurance held by Australians. "The changes brought by this Bill are designed to encourage the public to have more trust ...

AMP cops short-term pain

JAMIE WILLIAMSON  |  THURSDAY, 9 FEB 2017
... impact wealth protection would have on future group earnings...We also entered into an agreement to reinsure 25% of our total life-risk exposure and the reinsurance will reduce our profit margins in wealth protection but also released $500 million in ...

Challenger annuities march on

MARK SMITH  |  FRIDAY, 22 APR 2016
... annuities (up 22%) and lifetime annuities (up 63%). Life annuity net book growth for the quarter was $135 million, or 1.6%. Total life sales for the quarter were $864 million, comprising annuity sales of $575 million and other sales of $289 million. ...
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