Just Retirement, the specialist UK life assurance group focusing on the provision of financial services to those at or in retirement, has announced a rise in total sales of 12.8% for the year ended 30 June 2008.
Sales in the key product areas of enhanced annuities rose by 9.6% to £604.5m while equity release products were up 27% to £159m. Total sales for the group increased from £676.8m at the end of June 2007 to £763.5m this year. Value of new business was up from £41.2m to £42m. Underlying operating profit before tax (on an EEV basis) rose marginally by 1.2% from £65.6m to £66.4m over the year. However, this excludes a one off charge of £4.3m for operating assumption changes which mostly relate to the impact of the change in the mortality basis. The group’s dividend per share rose from 0.6p to ...
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