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Just Retirement sales buoyed by equity release

by: IFAonline
  • 14/02/2011
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Just Retirement sales buoyed by equity release
Second-half sales at annuity provider Just Retirement climbed 11% last year thanks largely to a jump in equity release business.

Sales in the six months to 31 December 2010 were up 11% compared to H2 2009, with equity release mortgage advances up more than 20%.

Meanwhile, annuity policies increased by 8.4% during the same period.

CEO Rodney Cook said the figures were boosted by a three-year distribution deal signed in 2007 with Saga.

Just Retirement provides retirement advice to customers who are introduced to it by the company.

“Equity release sales remain strong over the six month period growing year on year by 20%,” Cook said.

“A proportion of this growth is driven by our distribution expansion such as our partnership with Saga.

“We remain convinced this market has long term growth potential that will become more apparent as other distributors with strong consumer brands enter the market place.”

Cook added the provider is planning more distribution partnerships over 2011.

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