Challenger Limited ( (AU:CGF) ) has issued an announcement.
TAL Dai-ichi Life, a subsidiary of Dai-ichi Life Holdings, has acquired a 15.1% minority stake in Challenger Limited from MS&AD Insurance Group Holdings at a premium price. This strategic investment is expected to strengthen Challenger’s growth strategy and provide financial confidence to more Australians in retirement. The existing reinsurance partnership with MS Primary will remain unaffected, ensuring continued collaboration and value creation. The acquisition is subject to regulatory approvals, and MS&AD’s representative will step down from Challenger’s board following the sale.
More about Challenger Limited
Challenger Limited is an investment management firm focused on providing financial security for retirement. It operates a fiduciary Funds Management division and an APRA-regulated Life division, with Challenger Life Company Limited being Australia’s largest provider of annuities.
YTD Price Performance: -15.54%
Average Trading Volume: 5,737
Technical Sentiment Signal: Strong Buy
Current Market Cap: $2.3B
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