Rising interest rates are casting a long shadow over the February reporting season. But while most companies are fretting about the hit to consumer and business confidence, Challenger Financial Group is enjoying the best conditions it’s seen in a decade.

As one of the country’s largest fixed-income originators, Challenger can pass on to its customers the higher interest rates it is earning. The group’s three-year annuity rate sat a touch above 2 per cent just 12 months ago, but it has since surged to a 10-year high of 5 per cent.