Shares in Just Group (JUST) - formerly JRP Group - closed trading 4 per cent higher after management reported a 13 per cent rise in new business revenue for the first three months of 2017. Sales of its defined-benefit pension scheme de-risking products were particularly strong, more than double what they were for the same period in 2016.
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Just Group has been focusing on the buy-in segment of the de-risking market, which de-risks pensions already making payments. Transactions are typically below £250m in value. Individual annuity sales also picked up, growing 7 per cent to £174m. However, lifetime mortgage sales were down almost a third compared with above-average sales in the prior year.
