Enhanced annuity sales exceed £4bn

clock

UK enhanced annuity sales reached £4.48bn in 2012, an increase of 49% from the previous year, according to research from a pension consultant.

Figures from Towers Watson show second half sales in 2012 hit £2.49bn. Sales in October to December also reached a "quarterly record" at £1.32bn. Sales of annuities which provide higher incomes for those with medical conditions or negative lifestyle factors have increased year-on-year. In 2010 total enhanced annuity sales reached £2,4bn and £3,01nn in 2011. Mike Williams, a leader in the insurance management consultancy team at Towers Watson, said: "2012 sales approaching £4.5bn is yet another landmark in the enhanced annuity market. Over 85,000 consumers benefited from higher pens...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Income

Market turbulance, de-risking for retirement and the crucial role of annuities

Market turbulance, de-risking for retirement and the crucial role of annuities

Annuities are now back to pre-2008 credit crunch levels

William Burrows
clock 17 April 2026 • 5 min read
Why annuities are back on advisers' agendas

Why annuities are back on advisers' agendas

'Another factor bringing annuities back into focus is the evolving tax landscape'

Ahmed Bawa
clock 24 March 2026 • 4 min read
Just guaranteed income for life sales soar amid adviser demand

Just guaranteed income for life sales soar amid adviser demand

Reports IFRS loss before tax of £118m for 2025

Jen Frost
clock 27 February 2026 • 2 min read