Challenger Aims for Greater Presence with New Client Division – Life Insurance – Insurance News

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Challenger aims for greater presence with new customer division

May 23, 2022

Investment management firm Challenger has unveiled plans to create a client division and made changes to its management team as the company strives to expand its reach across more channels.

The announcement follows a strong first-half performance from the company, which reported in February that group-wide statutory net profit rose 27% to $282 million from a year earlier. and normalized after-tax net profit rose 21% to $166 million.

Challenger says the new division will encompass all of the group’s customer functions and leverage the skills that currently exist across the business.

The company says an internal and external search will begin shortly for the position of Chief Customer Officer to lead the new division.

Life Managing Director Angela Murphy will support the company in the transition to the new structure, after which she has decided to leave the company.

As part of the changes to the management team, Anton Kapel, Chief Financial Officer, Life and Appointed Actuary, has been promoted to Managing Director, Life and Solutions and will join the management team effective June 1. His responsibilities will encompass life investments, investment solutions and actuarial.

“We have a unique opportunity to bring the best of Challenger to more Australians than we do today,” CEO and Managing Director Nick Hamilton said.

“The new customer division will enable Challenger to meet our ambitions to expand our customer base and enhance our proposition.

“The Chief Customer Officer will play an important role in driving our efforts to bring the best of Challenger to more customers.”

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