Just Retirement’s third quarter group sales increased 32 per cent, from £290m in 2011 to £380m this year, driven by a surge in annuities business.
Sales of annuities, including enhanced and fixed-term products, increased 35 per cent from £232m in Q3, 2011 to £313m in Q3 this year.
Equity release sales increased 18 per cent, from £58m in the third quarter last year to £69m in Q3 this year.
Just Retirement chief executive Rodney Cook says: “Sales for the group in 2012 show an upward trend for both products and we expect to maintain a competitive position in both markets to enhance our market leading position.
“Our fixed-term annuity product, the first in the UK with an enhanced annuity conversion feature, has achieved pleasing results as advisers look for alternatives to standard annuities for those customers in good health.”