May 16, 2019 / 6:12 AM / 11 days ago

Just Group Q1 retirement income sales drop 59%

LONDON, May 16 (Reuters) - Specialist pension provider Just Group recorded a 59% fall in retirement income sales to 184 million pounds ($236.40 million) in the first quarter, hurt by lower sales of bulk annuities, it said on Thursday.

Sales of bulk annuities - insurance of company defined benefit, or final salary, pension schemes - dropped 90 percent to 26 million pounds, Just Group, which specialises in annuities for people with a reduced life expectancy, said in a statement.

$1 = 0.7783 pounds Reporting by Carolyn Cohn Editing by Rachel Armstrong

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