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Just Retirement Q1 annuity sales increase 53 per cent

Just Retirement increased sales of annuity policies by 53 per cent in the first quarter from £175.7m last year to £268.3m in the three months to September 30, 2011.

Total group sales increased 36 per cent from £245.5m in Q1, 2010 to £333.4m in the corresponding period this year.

However, equity release sales dropped from £69.8m to £65.1m over the corresponding period as the continued economic uncertainty hit demand.

Just Retirement chief executive Rodney Cook says: “These results continue to demonstrate the resilience of Just Retirement’s business model and commitment to further extend our leadership position in our chosen retirement market segments, despite challenging market conditions.

“Our ability to grow sales in volatile markets demonstrates the strength of Just Retirement’s service and product offerings.”

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