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.
Just Group has completed a £340m buy-in with the Ibstock Pension Scheme in the insurer’s largest ever bulk annuity transaction.
Just Group has launched its inaugural green bond, raising £250m and becoming the first UK insurer to launch such an asset.
Just Group completed £460.3m of bulk annuity deals in the six months to 30 June, its half-year results have revealed.
The Leonardo Electronic Pension Scheme has concluded a £160m pensioner buy-in with Just Group in the scheme’s first risk transfer exercise.