Australia's largest annuity company, Challenger, reported record sales for the most recent quarter and increased its full year sales target by 28.5 percent.
Challenger increased its forward-looking annual sales target from $1.4 billion to $1.8 billion.
The company attributes part of the sales upsurge to a $5 million advertising campaign that was launchded this past February. The ad campaign focused on retail annuity sales.
According to an article in The Australian:
"Challenger expects life annuities to be its growth engine for at least the next decade, with Australians expected to warm to the benefits of lower-risk fixed interest retirement income."
Source: The Australian
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