Quarterly enhanced annuity sales reach 'landmark' £1bn

Figures revealed first half sales were £1.99bn in total, an increase of 39% over the same period in 2011. Total sales reached about £3b in total during 2011. The survey covered nine providers of enhanced annuities: Aviva, Canada Life, Just Retirement, Legal & General, LV=, MGM Advantage, Partnership, Prudential and Reliance Mutual. Andy Sanders, senior consultant at Towers Watson, said: "Exceeding £1bn of sales in a quarter is yet another landmark in the enhanced annuity market." Towers Watson found more than 20,000 consumers benefited from higher pension incomes because their medi...