Third quarter update
Market Announcement
Continuing to focus on longer duration more valuable sales
Upgrading FY24 earnings to top end of guidance range
- Group assets under management (AUM) $124 billion, up 6% for the quarter
- Total Life sales $1.7 billion and Life book growth 0.9%2 for the quarter
- Strong Lifetime annuity sales $202 million, up 37%
- New business annuity sales tenor 8.1 years (6.1 years pcp)3
- Moderating annuity maturity rate for the quarter 4%4
- Challenger Life strongly capitalised with a PCA ratio of 1.49 times5
- Funds Management funds under management (FUM) $114 billion, up 6% for the quarter
- Normalised net profit before tax guidance upgraded to the top end of the $555 million to $605 million FY24 guidance rang