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Market release Challenger Limited 09 February 2021 CHALLENGER ANNOUNCES HALF YEAR RESULTS Strong growth and diversification providing business momentum Life book growth 4.7 % in 1H21 • Funds Management net inflows $ 6.4 billion in 1H21 • Group assets under management up 13 % to $ 96 billion in 1H21 Bank acquisition to drive medium - term growth Performance in line with expectations Normalised net profit before tax ( NPBT ) $ 196 million reflects progressive deployment of excess liquidity On - track for full year normalised NPBT guidance Statutory net profit after tax $ 223 million with positive investment experience Strongly capitalised Challenger Life Company Limited excess capital above top end of target range Dividend 9.5 cents per share fully franked Challenger Limited ( ASX : CGF ) today announced its results for the first half of the 2021 financial year , with very strong growth in its Funds Management business and growing momentum in its Life business demonstrating the benefits of its strategy of diversification . Managing Director and Chief Executive Officer Richard Howes said the outcomes were in line with expectations and Challenger was on - track to deliver a full year normalised profit before tax within its guidance range of between $ 390 million and $ 440 million . Mr Howes said : " Our strategy of diversifying revenue is working with strong book growth in our Life business and industry leading organic flows in Funds Management . " We remain strongly capitalised with prudent portfolio settings which are appropriate given our growing customer franchise . The investment portfolio is in good shape , with no significant credit defaults and stable property valuations during the half year . We are gradually deploying our excess cash and liquidity to enhance future returns . " The Board has declared a dividend of 9.5 cents per share reflecting confidence in our future business performance and in the strength of our capital position . " Our Funds Management business is the fourth largest and fastest growing active manager in the country . Fidante net inflows near tripled to $ 5.8 billion in the half , supported by very strong institutional flows and retail flows , which were up 32 % compared to the previous corresponding period . " We continue to be the number one provider of secure retirement income streams in Australia and have benefited from our strategy of diversifying into institutional and overseas markets . Challenger Limited A.B.N 85 106 842 371 . challenger