At retirement specialist Just Retirement has reported record group sales for the first quarter of 2012-2013 of £455.5m, an increase of 36.6% on last year.
The firm said annuity sales for the period were £387.9m, an increase of 44.6%. Equity release mortgage advances reached £67.6m for Q1, an increase of 3.8%. Chief executive Rodney Cook said: "We have witnessed strong growth in each of our core markets during this period. We expect sales in the annuity market will continue to be strong in the second quarter as advisers seek to close client contracts ahead of the gender directive and the Retail Distribution Review (RDR) coming into force. "Latest data published by the Equity Release Council would indicate a positive outlook for the ER ma...
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