Just Group plc, formerly JRP Group plc and, before that, Just Retirement Group plc, is a British company specialising in retirement products and services headquartered in

Reigate Reigate ( ) is a town in Surrey, England, around south of central London. The settlement is recorded in Domesday Book in 1086 as ''Cherchefelle'' and first appears with its modern name in the 1190s. The earliest archaeological evidence for huma ...

, Surrey. It is listed on the

London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St P ...

and is a constituent of the FTSE 250 Index.

History

The company, which was established as Just Retirement in 2004, was listed on the

Alternative Investment Market AIM (formerly the Alternative Investment Market) is a sub-market of the London Stock Exchange that was launched on 19 June 1995 as a replacement to the previous Unlisted Securities Market (USM) that had been in operation since 1980. It allows ...

until it was bought out by

Permira Permira is a global investment firm. Founded in 1985, the firm advises funds with assets under management of €60+ billion. The Permira funds have made approximately 300 private equity investments in four key sectors: Technology, Consumer, Ser ...

in 2009. It launched a fixed-term product that links with enhanced annuity rates in 2011 and then set up a pensions de-risking arm in 2012. It went on to join the long term care market and to offer individually underwritten annuities in 2013. The company was the subject of an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...

in November 2013. In April 2016 the company merged with Partnership Assurance and was renamed JRP Group. In May 2017 the company changed its name to Just Group plc.

Operations

The company provides 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.

Sponsorship

The company has been the sponsor For the World Bowls Events for 2014, 2015 and 2016. Under the 'Just' brand the company also sponsored the event for 2017 and 2018.

Prudential Regulation Authority proposals

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.

Relationship with Age UK

Just Group came under fire after claims that

Age UK Age UK is a registered charity in the United Kingdom, formed on 25 February 2009, and launched on 1 April 2009, which combined the operations of the previously separate charities Age Concern England and Help the Aged to form the UK's largest ch ...

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, Daily Telegraph
4 May 2019
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References

External links

Official site
{{Authority control Financial services companies established in 2004 Companies based in Surrey Companies listed on the London Stock Exchange