2 | Just Group PLC | Annual Report and Accounts 2023
INVESTMENT CASE 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. We help people achieve a better later life, by providing competitive products, financial advice, guidance and services to those approaching, at and in-retirement. We are retirement experts and deliver value for shareholders by putting customers first and meeting their needs. Read more on p5 EXCEEDING OUR 15% PROFIT GROWTH TARGET Our priority is to deliver profitable and sustainable growth. We have exceeded our profit growth pledge each year by growing profits 19% in 2022 and 47% in 2023. With the opportunities available to us, we are confident in our ability to continue to deliver exciting profit growth. Read more on p23 FAST GROWING RETIREMENT MARKETS Our retirement markets are growing rapidly. Helped by higher interest rates, the markets for defined benefit schemes de-risking and individual retirees seeking a guaranteed income for life are buoyant. As the population ages, our markets have many years of growth ahead. Read more on p10
GROWING SHARE THROUGH INNOVATION AND POSITIVE DISRUPTION
We increase our share in these growing markets through continuous innovation – seeking to positively disrupt the markets where we choose to participate. By delivering better outcomes for customers, we also deliver value for shareholders. Read more on p14 CONSISTENT DELIVERY AND DISCIPLINE Over the past five years, we have developed a strong track record of delivery. We have consistently met or exceeded our profit targets, our cash generation and balance sheet promises. During that period, we have progressively improved both the quality and resilience of our capital base, and the estimated solvency ratio now stands at 197%. Read more on p20
We have consistently exceeded the commitments we have made and we’re more optimistic than ever about the future for Just.” DAVID RICHARDSON Group Chief Executive Officer
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