Just Retirement's group total sales were £763.5m for the year ended 30 June 2008, up 12.8% year-on-year on the previous year's £676.8m.
The results were boosted by annuity sales up 9.6% year on year and equity release sales up 27%.
Market shares in both products increased compared to the previous year, with annuities estimated at 5.5% and equity release at 14.0%.
Just Retirement also believes the FSA’s announcement yesterday, calling for the fair treatment of annuity customers, will boost demand for enhanced annuities.
Mike Fuller, chief executive of Just Retirement, comments: “I am pleased to announce that the company has reported another full year of strong sales growth delivered against a backdrop of challenging market conditions.
"Critically, we have increased our annual shares of the annuity and equity release markets through our product, technology, service and funding advantages.
"The commitment from the FSA and ABI on ensuring a greater proportion of annuity demand is “shopped around”, the move to a stricter MCEV basis for our competitors and the widely expected long term growth in our core markets, all suggest that the medium term outlook remains positive for the company.
“Accordingly, I remain confident of further progress in the coming year.”
The company will announce its preliminary results for the year ended 30 June 2008 on 10 September.IFAonline
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