The merger of annuity providers Just Retirement and Partnership has been finalised forming JRP Group.
The company began trading on the London Stock Exchange this morning and has a market capitalisation of £1.4bn and assets under management of £15bn. The two providers announced plans to merge their businesses following the introduction of pension freedom which removed the need for all retirees to purchase an annuity. Sales at both outfits fell significantly following the reforms introduced in April 2015. JRP Group said it would focus on "improved scale, efficiency and capital strength to continue providing customers with better value alternatives to products offered by large incumbent ...
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