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Just Retirement secures £18m from majority shareholder


Just Retirement has secured an £18m investment from its majority shareholder Avallux as part of fundraising plans ahead of its planned merger with Partnership.

Last month, Partnership and Just Retirement announced plans to issue new shares in a bid to raise £150m to fund the merger.

Of the £150m total, £60m will cover one-off integration costs and £20m will pay for transaction costs, boosting reserves and product development.

Just Retirement has announced today that Avallux has taken up the bulk of the new shares on offer for £17.9m.

The share deal will mean that Avallux will hold a 48.4 per cent stake in the new enlarged company.

The combined JRP Group is targeting £40m in annual savings.



Partnership chief slams ‘frustrating’ FCA advice gap delays

The Government and the FCA have been labelled “frustrating” and accused of “navel gazing” for for failing to deliver a solution to the advice gap. Speaking at the Institute of Financial Planning’s annual conference in Newport today, Partnership chief executive Steve Groves said it is time for the regulator to “step up to the plate” […]


Partnership and Just Retirement to raise £150m to fund merger

Partnership and Just Retirement are to issue shares in a bid to raise £150m to fund the merger of the two companies. In August the enhanced annuity specialists announced they would be combining to form JRP Group and targeting £40m of annual savings. Partnership is to offer new shares in its business equivalent to 10 […]

Pensions-savings-retirement-piggy bank

Partnership prepares ‘low-cost’ guaranteed drawdown launch

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Just Retirement posts £30m loss post-pension freedoms

Just Retirement has moved from profit into loss for the year to the end of June, its first full financial year of accounts since pension freedoms was announced. The firm recorded a pre-tax loss of £29.6m, a dramatic swing from 2013/14 profits of £92.8m. The result was driven by plummeting annuity sales, which fell by […]

Happy while you work

Well we’ve had scorching weather (yes even up here in Scotland!) and now the Euros 2016 are on – you can’t blame people for wishing life was just one big holiday.  With all these distractions it sometimes feels like work just gets in the way of having a good time! But sunny day skivers are […]


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