Share Prices & Company Research

Market News

14 Nov 2024 | 09:17

Just Group completes largest defined benefit de-risking transaction to date

(Sharecast News) - Retirement products business Just Group said on Thursday that it has completed its largest defined benefit de-risking transaction to date.

Just Group said it had secured a £1.8bn full buy-in with the trustee of the G4S Pension Scheme, covering the benefits of roughly 22,500 pensioners and deferred members following a "competitive and rigorous" selection process.

The FTSE 250-listed group stated that utilising its funded reinsurance proposition, it was reinsuring 60% of the investment and longevity risks of the transaction. The transaction, which it had entered into with a subsidiary of Brookfield Wealth Solutions, was expected to close "in the coming weeks".

Just Group added that it was retaining 40%, which represents the shareholder-funded portion of the transaction, consistent with guidance given at the time of its H124 results.

As of 0915 GMT, Just Group shares were up 5.01% at 142.40p.









Reporting by Iain Gilbert at Sharecast.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new portfolio or transferring your portfolio from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.