• Normalised NPAT up 2% to $229 million
• Record annuity sales of $3.8 billion, up 32%
• Interim dividend increased 7% to 15.5 cents per share

Challenger Limited (ASX: CGF) has announced its financial results for the first half of FY26, reporting a 2% increase in normalised net profit after tax to $229 million. The company's Managing Director and Chief Executive Officer, Nick Hamilton, said the results demonstrate the strong fundamentals of Challenger's business, with delivery against key targets, a continued rise in annuity sales, and an increase in the interim dividend for shareholders. Financial performance reflects an increase in earnings across the group and continued expense discipline. Challenger has built strong momentum in the delivery of its strategy, positioning the company to capture the next phase of opportunities in the retirement income market. The company has established new partnerships with Insignia and BT to provide retirement income solutions to more customers, and has expanded its offshore reinsurance platform to enhance its competitive position in international markets. Challenger remains strongly capitalised with a PCA ratio of 1.58 times the minimum regulatory requirement, providing financial strength and flexibility to support future growth. The company has also announced a buy-back of up to $150 million of ordinary shares on-market, subject to market conditions and regulatory approval.

Challenger reaffirms its earnings guidance for FY26 and continues to target a normalised basic EPS guidance range of between 66 and 72 cents per share.

Challenger remains focused on successfully delivering its FY26 key priorities, including expanding its retirement income solutions and growing its offshore reinsurance platform.