The boards of Just Retirement and Partnership Assurance have agreed the terms of a recommended all-share merger to create JRP Group.

The merger is expected to result in Just Retirement shareholders owning approximately 60% of the combined group and Partnership Assurance shareholders owning approximately 40% of the combined group.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The Boards of Just Retirement and Partnership Assurance have agreed a unified management team of the combined group under the leadership of Rodney Cook as group CEO.

Reporting to Rodney Cook will be David Richardson as deputy group CEO and Simon Thomas as group finance director. Chris Gibson-Smith will be the chairman of the combined group while Tom Cross Brown will assume the role of deputy chairman.

According to Just Retirement and Partnership Assurance, the merger would deliver numerous benefits, such as the scale to grow in attractive segments, accelerate new product segments and enable more efficient distribution.

Tom Cross Brown, chairman of Just Retirement, said: "This transaction represents a unique opportunity to accelerate the existing strategy of both businesses. Our two businesses will be bigger, stronger and more efficient together, which we believe will allow us to deliver better returns to both policyholders and shareholders."

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Commenting on the merger, Chris Gibson-Smith, chairman of Partnership Assurance, said: "This transaction represents a unique opportunity to accelerate the existing strategy of both businesses. Our two businesses will be bigger, stronger and more efficient together, which we believe will allow us to deliver better returns to both policyholders and shareholders."