A PYMNTS Company

UK: Just Retirement and Partnership complete £15bn merger

 |  April 4, 2016

Just Retirement and Partnership have finalised their merger to become JRP Group which will manage a total of more than £15bn assets.

The company began trading on the London Stock Exchange as of 4 April with a market cap of £1.4bn.

It comes after the Prudential Regulation Authority and Financial Conduct Authority gave the go-ahead for Just Retirement and Partnership to merge in March.

Under the terms of the merger, Just Retirement will own 60% of the new firm, with Partnership Assurance shareholders owning the rest of the business.

Shareholders of Partnership Assurance scheme will receive 0.834 of Just Retirement shares for each scheme share held.

JRP Group will continue to offer de-risking solutions for pension scheme trustees, individually underwritten retirement income products and long-term care plans.

Alongside its consultancy and software development the company’s professional services will consist of financial advice and guidance provision.

Full content: The Telegraph

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.