Enhanced annuity sales drop 7%

Figures from Watson Wyatt show total annuity sales between July and September were £415.8m, down 7% from the second quarter. However, enhanced annuities have maintained the share of the overall annuity market despite falling sales, indicating a general decline in annuity business. Sales are also expected to show continued growth on an annualised basis, with £1.3bn of enhanced annuities sold in the first nine months of 2009, compared with a total of £1.44bn for the whole of 2008. Andy Sanders, senior consultant at Watson Wyatt, says: "The continuing success of the enhanced annuity m...