JUST GROUP PLC Annual Report and Accounts 2021
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS continued
2 NET INVESTMENT (EXPENSE)/INCOME
Year ended 31 December 2021 £m
Year ended 31 December 2020 £m
Interest income: Assets at fair value through profit or loss
572.1
631.7
Movement in fair value: Financial assets and liabilities designated on initial recognition at fair value through profit or loss
(832.1)
818.3 327.7
129.7
Derivative financial instruments (note 28) Total net investment (expense)/income
(130.3)
1,777.7
3 ACQUISITION COSTS
Year ended 31 December 2021 £m
Year ended 31 December 2020 £m
17.2 31.4 48.6
Commission
14.9 29.6 44.5
Other acquisition expenses Total acquisition costs
4 OTHER OPERATING EXPENSES
Year ended 31 December 2021 £m
Year ended 31 December 2020 £m
101.5
Personnel costs (note 9)
107.5
16.8
Investment expenses and charges
17.5
4.2
Depreciation of property, plant and equipment
3.9
20.4
Amortisation of intangible assets
19.9
0.3
Impairment of property, plant and equipment
–
–
Impairment of intangible assets
1.1
50.0
Other costs
70.0
Total other operating expenses
193.2
219.9
Other costs include reassurance management fees, professional fees, IT and marketing costs. Reconciliation of Other operating expenses to Management expenses
Year ended 31 December 2021 £m
Year ended 31 December 2020 £m
Total other operating expenses Investment expenses and charges Reassurance management fees
193.2
219.9
(16.8)
(17.5) (22.2) (18.0)
(8.4)
(18.0)
Amortisation of acquired intangible assets
(2.6)
Other costs
(2.9)
Total management expenses
147.4
159.3
136
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