Challenger is selling a record number of retirement income products that are tied to inflation as retirees fret about cost-of-living pressures.
The financial services firm delivered a 17 per cent increase in normalised net profit of $608 million, which was above the $605 million top of its guided range and helped by doubling its sales of lifetime income products to $1.5 billion.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
