Just Retirement sales up 36% but slump forecast

Sales at Q3 hit £333.4m, compared to £245.5m for the same period in 2010. Annuity sales accounted for £268.3m, up from £175.7m in 2010. However, equity release products dragged on performance, with sales down 6.7% on Q3 last year. In 2010 Q3 equity release sales brought in £69.8m, whereas this year the value of equity release sales has fallen to £65.1m and the provider predicts sales will fall further. Rodney Cook, chief executive of Just Retirement, said: "Equity release sales have fallen slightly during the quarter due to the volatile market conditions and economic uncertainty im...