Challenger CEO points to super distribution

Annuities specialist, Challenger has reinforced the degree to which its relationship with superannuation funds is helping drive its bottom line.

Challenger chief executive, Brian Benari used its address to the company’s annual general meeting today to point to the number of distribution relationships the company had entered into with profit for member funds this year.

He said that Challenger had made its products available to Local Government Super, CareSuper and legalsuper, while Suncorp was offering Challenger-backed annuities though its branch network.

“Last month we launched our full range of annuity products via AMP’s adviser portal to AMP retail and corporate superannuation clients,” Benari said.

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He said AMP had one of the largest networks of financial advisers in Australia and having Challenger annuities available on their platforms was making it easier for AMP advisers and their clients to access Challenger products. 

“We have already announced plans to offer Challenger annuities on the BT platform and expect to go live with BT in the second half of the financial year,” Benari said. “When they join our existing arrangements, Challenger annuities will be represented on platforms used by two-thirds of Australia's financial advisers.”