Just Retirement has reported a 30 per cent surge in new business from £249.6m in the three months to December 31, 2010 to £323.7m during the final three months of 2011.
The provider’s performance was boosted by strong annuity and equity release sales. Annuity sales increased 24 per cent from £202.9m in the three months to 31 December, 2010 to £251.1m during the same period in 2011.
Equity release sales were up 55 per cent from £46.7m in the final three months of 2010 to £72.6m in the corresponding period of 2011.
The results mean Just Retirement’s total sales have grown by almost 33 per cent in the first half of the year, increasing from £495.1m in the six months to December 31, 2010 to £657.1m in the three months to December 31, 2011.
Just Retirement chief executive Rodney Cook says: “Just Retirement is well positioned to benefit from the changes taking place in the retirement income market due to our continued investment in product and service innovations for financial intermediaries and their clients.”