Just Group’s business update for the 9m period ended 30 September 2018 is here. Shares were up 5% on the news this morning.
Headlines: £483m of ERM business written, which they say is CP 13/18 compliant, and they write:
CP13/18 is for us primarily a back book issue. The Group has no further clarity on the outcome of the consultation
In the same period, they took on about £1bn of defined benefit derisking business. ‘Derisking’ is actually an odd name for this kind of business, but Kevin and I shall be discussing that in Q1 next year.
The firm awaits the publication of the PRA’s final supervisory statement, as we all are. As I commented here, it is not certain whether it is just the implementation that has been delayed, or the publication. All we know is that it will be published in due course.
Get on with it then!