Just Retirement’s total annuity sales have surpassed £400m for the first time to hit £412m, latest figures have revealed.
The company’s second quarter new business sales to 31 December 2012, showed that total annuity sales increased by over 64 per cent compared to the same period last year. Total group sales reached £491m, an increase of 52 per cent in the same period.
Just Retirement’s chief executive officer Rodney Cook said: “These high sale volumes have resulted from increased total market activity by financial advisers to bring forward business ahead of the December cut off dates for gender and the retail distribution review.
“We expect volumes in the next quarter will be significantly lower than these exceptional market levels,” Cook added.
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