Challenger Limited
(ASX:CGF) is reportedly set to reveal its lifetime annuities business has reached a sales milestone of $100 million for the first time.
According to News Corporation the financial services provider is also expected to confirm guidance of 15 per cent retail annuity sales growth and 10 per cent retail book growth at its annual general meeting today.
The reports says Challenger expects $440 million to $450 million in cash earnings for its life company while its funds management business now has $20 billion under management.
Chairman Peter Polson told the publication that other than Challenger’s share price the performance of the company is extremely good.
Challenger’s net profit dropped 43 per cent to $166.7 million in the 2012 financial year, impacted by investment market volatility.
