Aviva commits to focusing on equity release

The firm is set to change its approach to a whole range of retirement products, head of the insurer's UK life arm Toby Strauss told IFA Online.

He explained: "There will be greater focus on variable annuities, equity release and de-risking defined benefit schemes.

"People want to manage income from different places at different stages in their retirement and we are starting to adapt to support that as we shift to see the baby boomers retiring."

Last month, a survey by Safe Home Income Plans indicated that the high level of regulation for the equity release sector has helped to produce a successful sector.

Five per cent also believe that there is growing political awareness of the importance of equity release, which is helping to create successful sector.

Ashall Glover Financial Services is an equity release specialist.