Challenger Limited (ASX:CGF; OTC:CFIGY) operates as an ASX-listed investment management company focused on retirement financial security; it manages $126 billion in assets through its core Life and Funds Management segments, offering annuities, fixed income strategies, equity mutual funds, and alternative assets. Challenger Life serves as Australia's largest provider of annuities, delivering regular retirement income streams; Challenger Investment Management specializes in global fixed income opportunities; and Fidante partners with best-in-class managers for equity, fixed income, and alternatives access. Founded in 1985 and headquartered at 255 Pitt Street in Sydney, New South Wales, the company primarily targets Australian retirees and institutional clients, with operations extending to Asia and the United Kingdom. Recent developments include TAL's acquisition of an additional 4.8% stake in 2025, increasing its holding to 19.9% for strategic alignment in life insurance and asset management; record sales in retail lifetime and Japanese annuities alongside a 9% rise in normalized FY25 net profit to $456 million; new retirement income partnerships such as with NGS Super and Local Government Super; and the launch of innovative ASX notes backed by public and private credit plus a digital income platform.