LONDON (Reuters) – British insurer Just Group said on Tuesday its retirement income and new business profits both grew last year, in a full-year trading update for 2021.
Just Group specialises in annuities paying a fixed income to pensioners with reduced life expectancies.
The company said income from retirement sales jumped 25% to 2.7 billion pounds ($3.68 billion) last year, while new business profits grew by a “low double digit” percentage.
The firm added that its underlying organic capital generation more than doubled from the previous year, exceeding its 2022 target a year early.
($1 = 0.7335 pounds)
(Reporting by Iain Withers; Editing by Rachel Armstrong)
