Just Retirement sales up 33%

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, chi...