Challenger Limited (AU:CGF) has released an update.
Challenger Limited has announced the extension of its reinsurance partnership with Mitsui Sumitomo Primary Life Insurance Company, ensuring a minimum annual reinsurance of ¥50 billion for five years, starting July 2024. This deal reaffirms the strong relationship between the two firms, with Challenger Life continuing to support MS Primary’s growth and reinsurance requirements for various currency-denominated annuities. The collaboration, which also ventures into asset management, underscores both companies’ commitment to enhancing their partnership and providing financial security.
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