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Challenger picks back-office backing

Challenger has appointed Marlborough Stirling to provide back office support for its retirement product range.

The Australian company is looking to launch a guaranteed annuity offering in the near future to supplement its Gibraltar based Open Annuity which it launched in December 2001.

Challenger says by keeping administration costs to a minimum it will be able to pass savings onto consumers as it will be able to develop novel and competitive products.

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