Insurer’s results show sharp growth in underlying operating profit
Insurer reveals it completed 80 risk reduction deals in 2023 which totalled £3.4bn
L&G and Just post strong risk transfer business in first half of 2023
The firm put the growth largely down to its proprietary bulk quotation service
Around half of the liabilities of the scheme were reinsured to minimise capital strain
Deferred-heavy deal completed at the end of 2021 in midst of ‘intense market’ conditions
A total of 29 deals range in size from between £3m and £250m as H2 saw higher demand
Pensioner-only transaction forms part of insurer’s first half bulk annuity deals
While the firm saw adjusted operating profit of £90m, this was offset by its £87m pre-tax loss
Just Group completed 23 buy-in and buyout transactions at a total volume of £1.5bn over the course of 2020, according to its annual results.