Just Group plc

The company, which was established as Just Retirement in 2004, was listed on the Alternative Investment Market until it was bought out by Permira in 2009.{{cite web|url=http://www.ft.com/cms/s/0/b3cbeec0-4b82-11e3-8203-00144feabdc0.html#axzz2vOnpCJ9C|title=IPO values Just Retirement at £1.1bn|publisher=FT.com|date=12 November 2013|access-date=8 March 2014}} It launched a fixed-term product that links with enhanced annuity rates in 2011{{cite web|url=http://citywire.co.uk/new-model-adviser/news/are-consumers-getting-a-raw-deal-from-fixed-term-annuities/a513006|title=Are consumers getting a raw deal from fixed term annuities?|date=3 August 2011|publisher=City Wire|access-date=28 October 2015}} and then set up a pensions de-risking arm in 2012.{{cite web|url=https://www.healthinsurancedaily.com/health-insurance/product-area/group-risk/article412665.ece|title=Just Retirement launches pensions de-risking business|publisher=Health Insurance Daily|date=29 November 2012|access-date=28 October 2015}} It went on to join the long term care market and to offer individually underwritten annuities in 2013.{{cite web|url=https://www.moneymarketing.co.uk/news/just-retirement-to-launch-long-term-care-annuity-as-sales-slump/|title=Just Retirement to launch long-term care annuity as sales slump|publisher=Money Marketing|date=21 May 2013|access-date=26 February 2025}} The company was the subject of an initial public offering in November 2013. In April 2016 the company merged with Partnership Assurance and was renamed JRP Group.{{cite web|url=http://www.pensionsage.com/pa/Just-Retirement-Partnership-merger-complete-JRP-Group-formed.php%20.php|title=Just Retirement/Partnership merger complete; JRP Group formed|date=4 April 2016|access-date=16 April 2016}} In May 2017 the company changed its name to Just Group plc.{{cite web|url=https://www.reuters.com/article/markets/commodities/jrp-group-changes-name-to-just-group-plc-idUSFWN1IL08W/|title=JRP Group changes name to Just Group Plc|publisher=Reuters|date=19 May 2017|access-date=26 February 2025}}

The company started as a provider of annuities to retirees with serious health conditions such as heart disease and to heavy smokers. The products pay out a higher income than the usual products.{{cite web|url=https://uk.finance.yahoo.com/news/just-retirement-valued-1-8-074928497.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAMohI22Cwfn7NL_Zg-cHKx3YYk3kxZdOSYAEdHQTBJec4bF_ruyw9mzVhWMLTxgp-KnovaB8eoVr-B2yoPY3wzKsHOPZXhC7UrOs-0ZL48J3N2P-LxSounReDF_8xGgZP7C-AogRouccLGMha3rHszYHknXNIuoNoNLPXmvmNxKQ|title=Just Retirement valued at $1.8 bln in London share listing|publisher=Reuters|date=12 November 2013|access-date=8 March 2014}} It now offers a Defined Benefits De-risking Solution,{{cite web|url=http://professionaladviser.com/news/2228371/-retirement=targets-db-pension-market|title=Just Retirement targets BD pensions market|publisher=Professional Adviser|date=29 November 2012|access-date=26 February 2025}} and also owns a corporate advice business, HUB Financial Solutions, which offers an automated retirement advice service.{{cite web|url=http://www.financialreporter.co.uk/later-life/just-group-launches-automated-retirement-advice-service.html|title=Just Group launches automated retirement advice service|publisher=Financial Reporter|date=12 March 2021|access-date=26 February 2025}}

In 2021, the company applied its medical underwriting technology to its lifetime mortgage products that allow people aged 55+ to access wealth locked up in their property.{{cite web|url=https://ifamagazine.com/just-group-introduces-medical-underwriting-on-lifetime-mortgage-range|title=Just Group launches automated retirement advice service|publisher=IFA Magazine|date=20 September 2021|access-date=28 February 2025}}

David Richardson has been Group CEO since September 2019, having previously been Just's deputy CEO and CFO of Partnership.{{cite web|url=https://www.ftadviser.com/pensions/2019/09/19/just-group-appoints-chief-executive/|title=Just Group appoints chief executive|publisher=Financial Times|date=19 September 2019|access-date=28 February 2025}} Mark Godson is the Group CFO.{{cite web|url=https://markets.ft.com/data/announce/detail?dockey=1323-16223004-5BU17EHN9S9SM37354DUTGU98S|title=Just Group: Directorate Change|publisher=Financial Times|date=23 November 2023|access-date=28 February 2025}}

Its board includes John Hastings-Bass as Group Chair,{{cite web|url=https://www.reuters.com/article/business/just-group-appoints-john-hastings-bass-as-new-chairman-idUSKCN2580PA/|title=Just Group appoints John Hastings-Bass as new chairman|publisher=Reuters|date=12 August 2020|access-date=28 February 2025}} and Michelle Cracknell, former CEO of the Pensions Advisery service, the Government's information and guidance service for members of the public on state, company and personal pensions (now the Money and Pensions Service).{{cite web|url=https://www.financialreporter.co.uk/later-life/michelle-cracknell-joins-just-group.html/|title=Michelle Cracknell joins Just Group|publisher=Financial Reporter|date=4 February 2020|access-date=28 February 2025}}

In 2020, Just Group launched the first Green Bond{{cite web|url=https://www.research-tree.com/newsfeed/article/just-group-plc-sustainability-rt1-bond-completion-1271004|title=Just Group plc - Sustainability RT1 Bond Completion

|publisher=Research Tree|date=16 September 2021|access-date=28 February 2025}} issued by a UK insurer and its first Green Lifetime Mortgage.{{cite web|url=https://mortgagesoup.co.uk/just-unveils-uks-first-green-lifetime-mortgage/|title=Just unveils "UK's first" green lifetime mortgage|publisher=Mortgage Soup|date=13 July 2021|access-date=28 February 2025}} In 2021, the company issued a Sustainability RT1 Bond, the first of its kind in the UK and European insurance sector.{{cite web|url=https://www.insuranceerm.com/news-comment/just-group-slashes-debt-costs-with-first-sustainable-rt1-bond-issue.html|title=Just Group slashes debt costs with first sustainable RT1 bond issue

|publisher=InsuranceERM|date=17 February 2021|access-date=28 February 2025}}

Just Group became the first UK asset owner to join the Principles for Responsible Investment{{cite web|url=https://corporate-adviser.com/just-group-becomes-signatory-to-uk-stewardship-code/|title=Just Group becomes signatory to UK Stewardship Code|publisher=Corporate Adviser|date=22 July 2024|access-date=28 February 2025}} and was listed as a signatory of the UK Stewardship Code by the Financial Reporting Council in 2024.{{cite web|url=https://www.justgroupplc.co.uk/~/media/Files/J/Just-Retirement-Corp/news-doc/2024/just-group-listed-as-a-signatory-of-the-uk-stewardship-code.pdf|title=FRC lists Just Group as a signatory of the UK Stewardship Code

|publisher=Just Group plc|date=22 July 2024|access-date=28 February 2025}}

The company ranked second among Financial Services companies in the Financial Times - Statista list of Europe's Climate Leaders for 2022.{{cite web|url=https://www.ft.com/climate-leaders-europe-2022|title=Europe's Climate Leaders 2022: interactive listing|publisher=Financial Times|date=12 April 2022|access-date=28 February 2025}}

The company has been the sponsor For the World Bowls Events for 2014, 2015{{cite web|url=http://www.sponsorship-awards.co.uk/news/just-retirement-signs-new-title-sponsor-world-bowls-event|title=Just Retirement Signs As New Title Sponsor For World Bowls Event|work=sponsorship-awards.co.uk|access-date=3 November 2015}} and 2016.{{cite web|url=https://bowlsinternational.com/just-retirement-agree-three-year-sponsorship-deal-for-the-world-indoor-bowls-championship/|title=Just Retirement agree three year sponsorship deal for the World Indoor Bowls Championship|work=bowlsinternational.com|date=23 January 2015|access-date=26 February 2025}} Under the 'Just' brand the company also sponsored the event for 2017{{cite web|url=http://www.pottersbowls.com/blog/be-bowled-over-at-the-2017-just-world-indoor-bowls-championships/|title=Be bowled over at the 2017 Just World Indoor Bowls Championships|date=1 December 2016|publisher=Potters Bowls|access-date=6 February 2017|archive-date=7 February 2017|archive-url=https://web.archive.org/web/20170207113313/http://www.pottersbowls.com/blog/be-bowled-over-at-the-2017-just-world-indoor-bowls-championships/|url-status=dead}} and 2018.{{cite web|url=http://www.pottersbowls.com/blog/just-2018-world-indoor-bowls-championships-results/|title=Just 2018 World Indoor Bowls Championships - results|date=5 December 2017|publisher=Potters Bowls|access-date=27 January 2018|archive-date=28 January 2018|archive-url=https://web.archive.org/web/20180128021021/http://www.pottersbowls.com/blog/just-2018-world-indoor-bowls-championships-results/|url-status=dead}}

The firm’s share price fell after it announced in its business update on 24 July 2018 that proposals by the Prudential Regulation Authority on the valuation of equity release mortgages could, if implemented, result in a reduction in the firm's regulatory capital position.{{cite web|url=https://www.ft.com/content/54b659b0-8f3a-11e8-b639-7680cedcc421|title=Just Group warns proposed mortgage rules could hit its capital|date=24 July 2018|publisher=FT|access-date=5 August 2018}}

In March 2022, the company reintroduced dividend payments to investors after it had halted the payments in 2018 while it made necessary changes to its balance sheet to comply with Solvency II capital requirements.{{cite web|url=https://www.londonstockexchange.com/news-article/JUST/results-for-the-year-ended-31-december-2022/15864026|title= Final Results for the year ended 31 December 2022|publisher=London Stock Exchange|date=7 March 2023|access-date=28 February 2025}}

In 2019, Just Group was criticised after claims that Age UK was sending users through its commercial arm (Age Co) to an equity release advice service provided by Hub Financial, a company wholly owned by Just. While customers were told that Hub compared deals from a panel of five providers, its advice process was structured so that in most cases a customer would be offered a deal by just one panel member, namely Just.'Age UK equity release deals under fire', Adam Williams, The Daily Telegraph, [https://www.telegraph.co.uk/equity-release/mortgages/age-uk-equity-release-deals-fire/ 4 May 2019]

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• [http://www.justgroupplc.co.uk/ Official site]

{{FTSE 250 Index constituents}}

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Category:Financial services companies established in 2004

Category:Companies based in Surrey

Category:Companies listed on the London Stock Exchange

Category:Permira companies

Category:Companies in the FTSE 250 Index