Just Retirement sales up 16% ahead of takeover meeting

clock

Just Retirement sales jumped 16.4% in the first quarter of its financial year, helped by a spike in equity release business.

The firm also confirmed it will hold a general meeting to discuss a private equity takeover offer on 4 November. Total group sales for the three months to 30 September increased to 213.6m, up from 183.5m in the same period of 2008. Equity release sales rocketed by 51.4% to £50.1m, while annuity sales were more subdued, rising 8.7% to £163.5m. Chief executive Mike Fuller says: "Current trading remains positive. Our competitive position within enhanced annuities is satisfactory and demand is growing. "In equity release, while the market is somewhat subdued by continuing concerns o...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Income

Annuity revival continues as adviser quotes up 64% in past decade

Annuity revival continues as adviser quotes up 64% in past decade

But interest rate cuts coincide with quote volume dip in Q3 and Q4

Jenna Brown
clock 25 February 2025 • 3 min read
Annuity sales soar to £7bn in 2024 with more retirees taking advice

Annuity sales soar to £7bn in 2024 with more retirees taking advice

More joint life and inflation-linked policies purchased

Jenna Brown
clock 12 February 2025 • 3 min read
Gilt yield drama makes rising annuity rates 'hard to ignore'

Gilt yield drama makes rising annuity rates 'hard to ignore'

Dramatic spike in government borrowing costs

Jenna Brown
clock 13 January 2025 • 4 min read