StockMarketWire.com - Just group said first-half total new business rose by 56% compared to same period a year ago as total retirement sales soared 62%.

For the six months to June 30, total new business rose 56% to £1.52bn, supported by a 62% jump in total retirement sales to £1.20bn amid retirement income sales of £1.18bn.

Retirement sales growth was driven by exceptional defined benefit de-risking sales.

First-half defined benefit sales grew 143% to £718m compared to the period a year ago.

'This year we have seen an acceleration in the market as employee benefit consultants have managed the industry pipeline, reducing seasonality,' the company said.

Guaranteed Income for Life (GIfL) sales improved by 9% to £426m this year, while lifetime mortgage (LTM) advances of £313m were up 36%.

'The strength of first half new business means we are in a position to price even more selectively over the remainder of the year, particularly in DB De-risking, and we remain comfortable with the full year expectations,' said Rodney Cook, Group Chief Executive.


At 10:02am: [LON:JUST] Just Group Plc share price was -9.5p at 114.9p



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