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Just Retirement business booms

Just Retirement’s new business sales rocketed by 127 per cent this year.

The company’s preliminary results for the year ended June 30 shows new business sales leaping to £677m from £298m the previous year.

Annuity business rose by 118 per cent to £552m from £253m and equity-release sales nearly tripled to £125m from £45m.

Chief executive Mike Fuller says: “We are growing strongly in both of our core products and are bringing through new initiatives to broaden our reach.

“Our stated intention to enter the impaired-annuity sector will shortly become a reality and we are looking to expand our annuity offering further by applying our understanding of mortality, pricing and underwriting to bring new groups of retirees better value based on their individual circumstances.

We are also looking to extend our equity-release distribution business, Just Retirement Solutions, into the annuity market in the near future.”

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