July 24, 2018 / 6:13 AM / 4 months ago

BRIEF-Just Group H1 retirement sales up 62 pct

July 24 (Reuters) - Just Group PLC:

* SAYS RETIREMENT SALES GROWTH FOR THE FIRST-HALF OF 2018 WAS 62 PERCENT COMPARED WITH A YEAR EARLIER, DRIVEN BY EXCEPTIONAL DEFINED BENEFIT DE-RISKING (“DB”) SALES.

* SAYS DB SALES OF 718 MILLION POUNDS WERE UP 143 PERCENT VERSUS THE FIRST HALF OF 2017.

* SAYS GUARANTEED INCOME FOR LIFE (GIFL) SALES IMPROVED BY 9 PERCENT TO 426 MILLION POUNDS THIS YEAR.

* SAYS LIFETIME MORTGAGE (LTM) ADVANCES OF 313 MILLION POUNDS WERE UP 36 PERCENT IN H1 2018.

* SAYS REMAINS COMFORTABLE WITH FULL YEAR EXPECTATIONS.

* SAYS CONTINUES TO WORK CONSTRUCTIVELY WITH PRA ON LIFETIME MORTGAGES AS PART OF CONSULTATION AND WILL UPDATE MARKET WHEN APPROPRIATE. Source text for Eikon: Further company coverage: (Reporting By Simon Jessop)

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