Just Retirement's group sales hit £1bn for the first time during the year ending June 30 2010, which is a 33% year-on-year increase.
The insurer's assets under management, including cash, gilts, corporate bonds and equity release mortgages which support its annuity liabilities, hit £2.8bn over the period, rising 47% from £1.9bn in June 2009.
Value of new business stood at £56.5m over 2009/10, which was a 15% increase on the previous year.
By June this year, Just Retirement had a Pillar 1 solvency ratio of 175%, a 15% gain on the previous year's solvency level.
"This excellent performance is a testament to the strategy employed by the management in the depths of the recent financial crisis," says Rodney Cook, chief executive of Just Retirement.
"By focusing more on profit and capital preservation than just sales, Just Retirement entered the year to June 2010 in great shape. This allowed the group to make further market gains."
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