Enhanced annuity sales exceeded a billion pounds in the second quarter of the year, according to research by Towers Watson.
Figures revealed first half sales were £1.99bn in total, an increase of 39% over the same period in 2011. Total sales reached about £3b in total during 2011. The survey covered nine providers of enhanced annuities: Aviva, Canada Life, Just Retirement, Legal & General, LV=, MGM Advantage, Partnership, Prudential and Reliance Mutual. Andy Sanders, senior consultant at Towers Watson, said: "Exceeding £1bn of sales in a quarter is yet another landmark in the enhanced annuity market." Towers Watson found more than 20,000 consumers benefited from higher pension incomes because their medi...
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