JUST GROUP PLC Annual Report and Accounts 2020
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strategic priorities
1. 2.
In 2020 we successfully executed our strategy to strengthen the Group’s capital position
IMPROVE OUR CAPITAL POSITION
TRANSFORM HOW WE WORK
2020 has been a year of challenges, but it has also been a year where we have evidenced how resilient we are as a business. We have demonstrated our operational capabilities to respond to the COVID-19 impacts to an exceptional standard. Despite the economic headwinds we have continued to make significant progress on the delivery of strong capital generation. Our markets have been resilient to the external pressures with negligible impact on our performance and strategy execution.
FOCUS We need to deliver a sustainable capital model to maximise opportunities available to us.
FOCUS To optimise our capital position we will continue to improve our processes to become more efficient and productive.
2020 PROGRESS • We have successfully delivered a significant technology upgrade across the Group this year which was a critical enabler to our ability to respond to COVID-19 impacts. • Behavioural and technical learning to support our new environment has been embedded to support the upgrade. • We have made good progress improving our business processes across the Group.
2020 PROGRESS • Capital management actions have been delivered. We have reduced our property risk exposure through the sale of an LTM portfolio, further NNEG hedge transactions and alternative investment strategies. • We completed our first DB partner transaction and have made progress towards scaling our partnering propositions. • The cost base has further reduced in 2020 by £6m.
2021 FOCUS • Maintain our focus on capital self-sufficiency, while taking advantage of growth opportunities in our markets. • Continue to de-risk our balance sheet to potential economic and regulatory challenges.
2021 FOCUS • We will have an enhanced focus on
Principal risks and uncertainties
A Market environment B Pricing assumptions C Regulatory changes D Economic environment E Operational processes and systems f Brand and reputation
transformation in 2021 with plans in place to streamline and digitise our operations across the business. • Building on our new technology capability we will complete the next stage of our programme to create a modern workplace fit for the future.
Link to risks and uncertainties:
Link to risks and uncertainties:
a b c d e f
a b c d e f
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