Challenger in £6bn UK annuity market foray

Challenger is to enter into the £6bn UK compulsory purchase annuity market and is looking at launching impaired life products later in the year. It is hoping to get its license through this week and should be selling products by the end of June, according to Alan Fletcher, sales and marketing director at Challenger. The company, a leading player in the Australian market, has a 10 strong intermediary sales team in place and the company is in the process of developing a website, which should be up and running in time for the launch, Fletcher, said. He added: 'With the Department of Wor...