According to data recently produced by Watson Wyatt, total third quarter sales of enhanced annuities were £416m. Just Retirement's own sales in this period of £163m represent a 7% share of the total market, the highest the Group has recorded since its foundation in 2004.
Andy Saunders, a senior consultant at Watson Wyatt, said:
"Sales of (enhanced annuities)in the first nine months of 2009 were just over £1.3 billion - less than £150 million short of full-year figures for 2008, which, based on current trends, means 2009 is on track to be yet another record year for the enhanced annuity market.
"The continuing success of the enhanced annuity market means more consumers are benefiting from higher pension incomes because of their medical condition or lifestyle has been assessed and a lower than average expectation of life anticipated."
Commenting on Just Retirement's performance Peter Ellis, Head of Annuities at Just Retirement, said:
"Primarily, however, we believe that it is our underwriting capability that sets us apart from the competition. This sales result was achieved during a period that saw the introduction of a revised version of the Common Quotation Form (CQF).
"Just Retirement worked alongside the other enhanced providers to develop this new questionnaire which asks more for extensive information about the most common illness types including Heart Disease, Cancer, Diabetes and Stroke, but also allows for details of any illness outside of this range to be provided.
"The depth and breadth of our underwriting capability allows us to provide better ratings on the core illnesses and also to provide ratings for illnesses not covered by most other companies."
