Challenger Life keeps rating on financial strength
FitchRatings has confirmed Challenger Life’s insurer financial strength rating at A-minus, with a stable outlook.
The associate director of FitchRatings’ financial institutions group, John Birch, said Challenger retained good levels of capitalisation in the current market environment.
“The capital buffer maintained by the company is positive as it provides a certain level of headroom should Challenger experience further stress,” Birch said.
Challenger’s two portfolio transfers from MetLife and AXA Australia over the last 18 months added $3.1 billion to its funds under management, as the drop in annuities products among Challenger’s competitors has left the company with the largest amount of annuities in the market and an increased client base.
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