Following Court Approval, the merger between Just Retirement Group plc and Partnership Assurance plc has completed and JRP Group plc has been formed.
The company which began trading on the London Stock Exchange today has a market cap of £1.4bn and assets under management of more than £15 billion. JRP Group is focused on utilising its improved scale, efficiency and capital strength to continue providing customers with better value alternatives to products offered by large incumbent insurers.
JRP Group provides a wide range of products, advice and professional services to individual customers, financial intermediaries, corporate clients and pension scheme trustees including:
- De-risking solutions for pension scheme trustees who want to remove the financial uncertainty of operating defined benefit pension schemes;
- Individually underwritten retirement income products delivering a guaranteed income for life and flexible pension plans offering customers the options to blend secured and unsecured income;
- Long term care plans that provide those people moving into residential care with peace of mind by knowing a regular payment will be made to the care provider for the rest of their life;
- Lifetime mortgages for people who want to safely release some of the value from their home; and
- Protection for people who may find it hard to purchase these products due to health conditions, lifestyle or other risk factors.
- Regulated financial advice and guidance services for individuals wanting help in using their pension savings and/or releasing some of the value from their home; and
- A range of business services tailored for our corporate clients, ranging from consultancy and software development to fully outsourced customer service delivery and marketing services.
Rodney Cook, Group Chief Executive, said: "I am delighted the merger process between Just Retirement and Partnership has been concluded and JRP Group plc is now established. As we launch, we are optimistic that our new company will use the outstanding intellectual property we have developed, together with our multi-channel distribution assets and market leading service to positively disrupt markets to deliver improved value to our customers."