Just Group’s retirement income sales more than double

Written by Adam Cadle

18/07/2023

Just Group has seen its retirement income sales more than double to £1.9bn in H1 2023, as soaring gilt yields fuelled corporate pension deals and sales of individual annuities.

Just Group completed 35 corporate pension deals during a record first half, up from 14 deals in H1 2022, and included its biggest to date valued at £513m.

Furthermore, the insurer said sales of individual guaranteed income products were now at their strongest since the introduction of new pension freedoms was announced in 2014. They were up 54% YOY to £470m.

Just Group CEO David Richardson said: “We are exceptionally well positioned to continue benefiting from the unstoppable trends and positive developments in both our markets. Our ability to take advantage of these trends and execute have further increased our confidence in Just’s ability to deliver 15% growth in underlying operating profit per annum, on average over the medium term.”

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