JUST GROUP PLC Annual Report and Accounts 2021
BUSINESS REVIEW
Sustainable Growth IN PROFITS
Over the past two years, we have rebuilt the capital base and achieved capital self-sufficiency. This, combined with the Group’s compelling propositions in the attractive UK retirement market provide the foundation for the delivery of on-going sustainable growth, which in turn delivers value for customers and shareholders.
andy parsons Group Chief Financial Officer
adjusted operating profit before tax 1 £ 238 m 2020: £239m underlying Organic capital generation 1 £ 51 m 2020: £18m Solvency II capital coverage ratio (estimated) 2 164 % 2020: 156%
1 Alternative performance measure. IFRS loss before tax £21m (2020: profit before tax £237m). 2 The 2020 Solvency II capital coverage ratio allows for a notional recalculation of TMTP at 31 December 2020. In 2021, the ratio includes the estimated impact of the biennial reset of TMTP as at 31 December 2021 and the TMTP has been calculated excluding the contribution from the LTMs that have been sold on 22 February 2022.
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