Just Retirement annuity sales up 87% in Q1

Year-on-year new annuity sales were £587.9m in the nine months to 31 March 2010, up from £399.6m for the nine months to the end of March 2009, an increase of 47%. However, the rise in annuity business was partly offset by a slump in quarterly sales of the Group's Equity Release Mortgage Advances proposition. Equity release sales fell from £37.4m in Q1 2009 to £34.2m in the same quarter this year, a drop of 8.6%. However, year-on-year sales of the equity release proposition rose 9.9%, up from £119.2m for the nine months to 31 March 2009 to £131m for the same period in 2010. Just ...