Enhanced annuities sales rise 24% to £1.79bn

The consultant says the total volume of enhanced annuity sales rose to £1.79bn last year - from £1.44bn in 2008. It says sales reached levels of £478.8m in the last quarter of 2010 alone - significantly up from quarter three sales of £415.8m. Towers Watson says the market share of enhanced annuity sales, as a percentage of total annuity sales, had more than doubled since 2001 - from £419.6m, a 7.8% market share, in 2001 to £1.79bn, a 16.9% share, last year. However, senior consultant Andy Sanders warned a successful enhanced annuity market does have implications. Sanders says: "...