Suncorp to white-label Challenger annuity

Suncorp to white-label Challenger annuity

Suncorp has entered into an agreement with Challenger to launch a white-label annuity product to its customers.


Under the agreement, Suncorp's financial planning network will offer clients a Suncorp-branded annuity product through Challenger.

Suncorp chief executive and managing director Michael Cameron said the product would provide "certainty on investment returns".

"By offering a Suncorp-branded annuity product, we are able to meet more of our customers’ needs by providing them with another avenue to manage their finances," Mr Cameron said.

"We continue to operate in a low-rate, low-growth environment and this type of product is designed to provide customers with a way to deliver a reliable income stream once they have stopped working."

Challenger chief executive and managing director Brian Benari noted that the number of over-65s is expected to grow to more than 7 million by 2056.

"As customers move towards retirement they need the kind of stable income and long-term financial security that guaranteed annuities provide," Mr Benari said.

Read more:

Record-breaking bank profits over: EY

Treasury consults on 'user-pays' ASIC model

Trump victory could trigger trade war

Westpac profit flat at $7.8bn, ROE slips

Deeper data analysis key to fixing gender gap

 

 

Suncorp to white-label Challenger annuity
investordaily image
ID logo
promoted stories

Appointments

investordaily image

Centrepoint Alliance appoints new CEO

Staff Reporter

Michelle Beveridge

REI Super names non-exec director

Staff Reporter

Ben Daly

T. Rowe Price grows distribution team

Staff Reporter

Analysis

investordaily image

Warning lights flashing on Aussie equities

Roy Maslen

investordaily image

What’s in store for the economy in 2018?

Frank Uhlenbruch

ST Wong

Busting common passive investing myths

ST Wong