Just Retirement DB sales offset individual annuities decline

The provider, one of those immediately flagged as a likely victim of the pension ‘flexibilities' announced by George Osborne in 2014, said it had made total annuity sales of just over £661m in the six months to 31 December last year, down 4% on the pre-Budget comparison period. Though individual annuity sales remain markedly lower, the provider said it completed 17 DB scheme deals in the period, including two for £75m and £76m. The provider said underlying operating profit fell 10% to £42.6m, beating analysts' forecasts of about £38m, according to a poll supplied by the company. Bu...