Challenger UK received its life office licence from the FSA last week, opening the way for its launc...
Challenger UK received its life office licence from the FSA last week, opening the way for its launch into the mainstream annuity market.
As first reported in Investment Week, the Australian provider aims to have a guaranteed open market option product by the end of the first half of the year
Managing director John Heller said the provider aims to gain significant market share by offering competitive rates. Malborough Stirling has been appointed to carry out the back office administration for Challenger. This paved the way for life office accreditation, said Heller. Challenger has signed a five-year contract with Marlborough Stirling to use its third-party administration service.
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