Just Retirement sales dip accelerates takeover talks

Annuity sales were responsible for the fall in new business, though the firm says it has opted to focus on margins rather than quantity in the annuity space. The firm is in ongoing takeover talks, originally announce in November last year, and says it will make further announcements on a possible offer in due course. Total sales for the final six months of 2008 were £353.9m, down from £387m in the same period of 2007. Annuity sales fell 13.1% to £272.1m, while equity release business grew during the period, up 10.7% to £81.8m. IFRS underlying profits climbed to £7.4m after tax, up 5...