Just Retirement 59% annuity sales drop offset by boom in bulk business

The provider said its overall sales for the quarter were 42% lower than last year but strong defined benefit de-risking through bulk annuity deals had somewhat offset the drop in individual underwritten annuities which brought in £129.3m. It said bulk annuity sales stood at £25m, compared to £3.2m last year. It said this figure excluded a £75m deal announced last month but not completed in time for this quarter's results. The results also announced another de-risking deal worth £76m set to complete later this week. Fixed term annuity volumes of £20.2m fell only 1% compared to the same...