The provider announced figures for the six months to 31 December 2012, in this period equity release sales rose to £146.2m. This is 6.2% up on the £137.7m figure recorded during the same period in 2011.
This growth was some way behind the performance of the group’s annuity sales, which grew 54.1% to £800.4m year-on-year.
During this period IFRS pre-tax profits increased to £77.8m.
Rodney Cook, CEO at Just Retirement, said: “Equity release advances maintained strong growth to reach record levels of £146.2 million, an increase of 6.2% compared to the same period last year.
“Demand from those people approaching and in-retirement to improve their retirement income continues to fuel growth in the sector.
“The total market for equity release, as measured by the Equity Release Council, has grown in each of the last three reported quarters.”
LV= announced its yearly results today, with the provider’s equity release sales rising 5% to £8.9m during 2012.
