Just Group pulls in £2.7bn after retirement income boost
Just Group has enjoyed a boost in its retirement income over the past 12 months, which pulled £2.7bn into the retirement group.
Sales jumped 25 per cent in the year to December 31, the company said in its trading update today, as Just Group boss David Richardson hails its “comfortable” capital position.
Shares closed 8.2 per cent higher at 93.3p per share.
“Over the last two years we have transformed the business and are now in a position to deliver profitable and sustainable growth to shareholders,” Richardson continued.
“This profitable growth has been achieved alongside more than doubling our underlying organic capital generation.”
The market for guaranteed income for life solutions has also recovered after the pandemic curbed sales in the first half of 2020.
Sales from the guaranteed income unit increased 16 per cent in comparison with 2021, and climbed past pre-pandemic levels by eight per cent.
The CEO added: “We are in a strong position to deliver further profitable growth at attractive returns for shareholders in 2022 and beyond.”