Overall, it recorded new business sales of £1.13bn for 2010/11, representing a 13.3% increase on the previous year.
The group’s fourth quarter sales were £350m, up 23.6% on the same quarter in 2010.
Equity release sales during this period totalled £67.4m, up 1.4% on the same three months to June 2010.
Rodney Cook, chief executive officer of Just Retirement (pictured), said: “These results continue to demonstrate the resilience of Just Retirement’s business model and commitment to further extend our leadership position in our chosen retirement market segments, despite challenging market conditions.”
He said that continued growth in equity release sales would come from its IFA relationships and consumer brand distribution partnerships.
Cook said: “We remain convinced that this market has significant long-term growth potential that will become more apparent as other distributors with strong consumer brands enter the market place and as further innovation materialises following the proposals outlined in the Dilnot report.”
