Australia's Challenger gains on higher quarterly life annuity sales

Challenger

17/04/2025 02:45

** Shares of Challenger CGF.AX up 6% at A$6.54, hits highest level since October 16, 2024

** Insurer reports 20% jump in Q3 total life annuity sales at A$991 million ($629.8 million)

** Sales beats market consensus of A$950 million, says investment research platform Sandstone Insights

** Co tightens FY25 UNPAT forecast range to A$450 million - A$465 million, from A$440 million-A$480 million previously

** Stock up 2.7% this year, as of last close

($1 = 1.5736 Australian dollars)

(Reporting by Sherin Sunny in Bengaluru)

((Sherin.Sunny@thomsonreuters.com))