Just reports new business sales up 17% led by DB arm

Total retirement income sales were £3.1bn for the year to the end of December. This compared to £2.6bn in 2021. The largest contributor was Just's defined benefit (DB) scheme de-risking business, which accounted for £2.5bn of new business. This was 33% higher than the previous year. The rise in interest rates during 2022 had a positive effect on DB scheme funding positions, which led to a very busy second half of the year for Just, the company said in a statement. In July 2022, according to the company, Just completed its largest DB transaction to date, a £484m deal using its DB pa...