JUST GROUP PLC Annual Report and Accounts 2021
INVESTMENT CASE
Purpose, PRofitable and sustainable growth, innovation and delivery
Deploying the capabilities of our highly effective new business franchise to create value from leadership positions in attractive and high-growth segments of the UK retirement income market.
WE HELP PEOPLE ACHIEVE A BETTER LATER LIFE Just has a compelling, clear purpose, to help people achieve a better later life by providing financial advice, guidance, competitive products and services to those approaching, at and in-retirement.
GROWING RETIREMENT MARKETS As the population ages, our retirement markets grow. Whether it is defined benefit schemes de-risking or individual retirees seeking to turn their pension into a guaranteed income for life, our markets have many years of growth ahead of them.
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SUSTAINABLE GROWTH - 15% GROWTH TARGET Our priority is to deliver profitable and sustainable growth. We are investing our increased levels of organic capital generated to reward shareholders by adding value through higher levels of new business volume to deliver sustainable, profitable growth at attractive levels of return. Our target is to deliver 15% growth in underlying operating profit, on average, per annum over the medium term.
GROWING SHARE THROUGH INNOVATION AND POSITIVE DISRUPTION We increase share in these growing markets through constant innovation – seeking to positively disrupt the markets where we choose to participate. By delivering better outcomes for customers, we can also deliver value for shareholders.
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LEADING DISTRIBUTION FRANCHISE Just has leadership positions in attractive segments of the retirement market. We have a strong brand, known and trusted for delivering outstanding service, which combines with a diversified distribution model to create a uniquely valuable franchise.
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DELIVERY AND DISCIPLINE We have developed a strong track record of delivering against our commitments. We achieved capital self-sufficiency more than a year earlier than originally planned, have successfully reduced our property sensitivity ahead of schedule and more than doubled our underlying organic capital generation one year early. We have reduced our cost base and by investing to automate our business processes have become a more efficient company. Investing in our infrastructure and propositions and implementing an illiquid asset investment strategy have contributed towards our profitable and sustainable growth objective and our commitment to becoming carbon net zero. Our disciplined new business franchise delivers market leading financial metrics.
We are increasing organic capital generation to fuel profitable and sustainable growth so we may reward shareholders
DAVID RICHARDSON Group Chief Executive Officer
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