Challenger Ltd. operates as an investment management firm, which engages in the provision of financial services. It focuses on providing financial security in retirement. The company operates through the following segments: Life and Funds Management. The Life segment includes annuity and life insurance business carried out by Challenger Life Co. Ltd. and the Bendzulla Actuarial Pty Ltd. actuarial certificates business. The Funds Management segment offers an end to end funds management business, and manages two listed funds and a number of unlisted fund mandates. Its products include fixed term annuities, lifetime annuities, careplus, fixed income and rate managed funds and superannuation Challenger was founded in 1985 and is headquartered in Sydney, Australia.