TAL takes 15.1% of Challenger | Australian Markets
Major life insurer, TAL has confirmed that it has acquired a 15.1% stake in Challenger Limited.
In a transfer being interpreted by some analysts as half of a bigger transfer into the annuities space, TAL’s affirmation mentioned it recognised the “evolving needs of Australia’s ageing population and a shareholding in Challenger adds to TAL’s long-term commitment to the growing retirement sector”.
TAL chief govt, Fiona Macgregor mentioned, “There is an important community need to address with five million Australians currently in or preparing for retirement. Our minority investment in Challenger is an extension of our commitment to supporting Australians’ financial needs during retirement.”
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