Just Annual Report and Accounts 2019

STRATEGIC REPORT

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TRANSFORM HOW WE WORK

GET CLOSER TO OUR CUSTOMERS & PARTNERS FOCUS As we transition our business model we will continue to ensure the customer is at the heart of everything we do. partnering we are pairing our highly effective new business franchise with third party capital to this high growth market. See page 20 for further details. 2019 PROGRESS • Through DB de-risking

GENERATE GROWTH IN NEW MARKETS FOCUS We will improve returns on new business by working to grow market demand. 2019 PROGRESS • We have shifted our focus to capital efficient opportunities. Our markets are attractive and we have strong access to markets through our wide distribution network. • Our new Secure Lifetime Income solution provides guaranteed income that can be blended with a customer’s investment funds within a self invested personal pension. A modern and innovative way to meet the needs of customers. • Continue efforts to increase share of GIfL new business which is transacted in the open market.

BE PROUD TO WORK AT JUST

FOCUS To improve our capital position we will enhance our processes to become more efficient and productive.

FOCUS Building the right organisational culture, strengthening our capabilities and developing an engaging employee experience. 2019 PROGRESS • Achieved our highest level of employee engagement since becoming Just. • Delivered a successful programme of activities to ensure employees felt well led and well managed, with opportunities for growth and development. • Particular progress was achieved with an enhanced leadership communication and engagement programme, including CEO quarterly town halls and conversations with the Board. • People manager capabilities were further improved through internal programmes/activities such as Just Lead, Just Engage and external training including a Charted Management Institute accredited management qualification.

2019 PROGRESS • Given our shift to a less

capital intensive and lower new business volume model, we have re-examined the cost base. • We have consolidated our property footprint in Reigate and have moved our London location. • We closed our United States operation to new care business and outsourced our UK income drawdown service.

2020 FOCUS • Continue to optimise our business processes. • Review our operating model to maximise efficiency.

2020 FOCUS • Create value by introducing

2020 FOCUS • Maximise value from long-term growth in later life lending. • Leverage expertise and intellectual property in core retirement markets.

2020 FOCUS • Ensure employees continue to feel well led and well managed, with opportunities for growth and development. • Enhance our support/ programmes for employee wellbeing. • Offer further growth and development opportunities for all employees. • Strengthen and diversify our leadership population and talent pipeline.

solutions to reduce the growing financial advice gap amongst those with more modest pension savings.

Link to risks and uncertainties:

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