The provider’s annuity sales fell by 2.9% during the quarter compared to the same period in 2010.
However, Just Retirement’s total sales for the quarter were boosted overall by its equity release business, which grew by 70.8% compared to the same period last year.
During the quarter, Just Retirement’s annuity sales were worth £231.6m, compared to 2010’s £238.6m.
The provider’s equity release sales hit £58.4m in the quarter, compared to £34.2m in 2010.
Overall, sales in the quarter in 2011 were £290m, representing a 6.3% increase on 2010’s £272.8m
“Enhanced annuity sales were £231.6m, which is 14.1% higher compared to the previous quarter but slightly lower than the corresponding period in 2010; a record quarter for Just Retirement,” said Rodney Cook, chief executive of Just Retirement.
