• Normalised net profit after tax up 2% to $229m
• Statutory net profit after tax up 369% to $339m
• Annuity sales up 32% to $3.8b

Challenger Ltd, a leading investment manager and retirement services firm, reported its financial results for the first half of fiscal year 2026. The company's normalised net profit after tax increased by 2% to $229 million, while statutory net profit after tax surged 369% to $339 million. Normalised basic earnings per share grew 2% to 33.3 cents per share, and the normalised return on equity (post-tax) was 11.4%, down 20 basis points. Group assets under management reached $128.2 billion, up 3% from the prior period. The company's Life business, which is Australia's largest provider of annuities, saw normalised net profit after tax rise 1% to $226 million. Annuity sales were up 32% to $3.8 billion, and total Life sales increased 11% to $5.1 billion. The Funds Management business reported a 7% rise in normalised net profit after tax to $29 million. The company continues to benefit from long-term growth in Australia's superannuation system and demand for retirement income products. Challenger has also partnered with Accenture to re-platform the Life business' core customer registry and technology infrastructure, and maintains a strategic annuity reinsurance relationship with Mitsui Sumitomo Primary Life Insurance Company Limited in Japan.

Challenger expects continued growth in its annuity sales and total Life sales for the 2026 financial year.

Challenger is well positioned to benefit from long-term growth in Australia's superannuation system and demand for retirement income products. The company is focused on enhancing its technology and distribution capabilities to support scalable growth across its business.