View more on these topics

Just Retirement reports 13% sales boost

Just Retirement’s total group sales jumped 13.3 per cent from £1,002m last year to £1,135m in the 12 months to June 30 this year driven by a final quarter surge in annuity sales, unaudited fourth quarter results show.

Total annuity policy sales increased 11 per cent from £804.6m in 2009-10 to £892.9m in 2010-11. This year’s figure includes a fourth quarter increase of 30.5 per cent from £216.7m in Q4 last year to £282.7m this year.

Equity release sales rose 22.7 per cent from £197.5m to £242.3m over the year, although the final three months of 2010-11 saw sales growth of just 1.4 per cent from £66.5m in Q4 last year to £67.4m this year.

Just Retirement chief executive Rodney Cook says: “These results demonstrate the resilience of Just Retirement’s business model.

“We continue to secure significant new partnership deals and have recently been appointed to the new Nest annuity panel.”

Recommended

EU proposals can boost UK broker market

We do not talk enough about the value of advice. At the height of the mortgage boom, a broker could tell a prospective borrower they did not need to go directly to the bank but could go through the broker and get a cheaper deal from the same bank. We did not need to talk […]

MPs want ICB to review retail banking total split

The Treasury select committee is concerned that the Independent Commission on Banking has not given enough consideration to a total split of retail and investment banking. The ICB’s interim report, published in April, proposed ringfencing retail banks within wider banking groups and making them hold at least 10 per cent core tier-one capital. The TSC’s […]

Schroder bolsters European equities team

Schroders has appointed Nicholette MacDonald-Brown as a fund Manager on its European equities team. MacDonald-Brown joins later this month and will report to head of European equities Rory Bateman. She joins after 11 years at Goldman Sachs. Bateman says: “We look forward to Nicholette joining at an exciting growth stage for the European equities team. […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment