Just Retirement and Partnership delay merger until Solvency II approval

clock

The proposed merger between Just Retirement and Partnership has been put on hold subject to meeting Solvency II requirements and is expected in January.

In statements issued to the stock exchange, both insurers said they would wait for the Prudential Regulatory Authority to approve their proposed internal model for Solvency II, which is expected in first half of December.

The internal model is one of the mechanisms insurers can apply to ensure they are compliant with Solvency II regulation's on risk and capital requirements.

Shareholder meetings to vote on the proposed merger, which had originally been scheduled for 26 November, will now go ahead on 5 January 2016.

In September Just Retirement and Partnership said they were looking to raise £150m in equity capital to help meet the costs of their planned £1.6bn merger announced in August.

Further reading 

Partnership to merge with Just Retirement

More on Long Term Care

Partner Insight: Clients facing care home fees postcode lottery

Partner Insight: Clients facing care home fees postcode lottery

Adam Hillier, Head of Care Service Operations, Legal & General
clock 12 December 2023 • 3 min read
'Industry Experts' suggest Long Term Care Insurance is unworkable

'Industry Experts' suggest Long Term Care Insurance is unworkable

"What we need is a policy that is simple and that customers can understand"

Tony Müdd
clock 05 April 2022 • 6 min read
Operational Guidance Lifetime Cap on Care Costs - Or Smoke and Mirrors?

Operational Guidance Lifetime Cap on Care Costs - Or Smoke and Mirrors?

"Why not implement the Cap now rather than wait until October 2023?"

Tony Müdd
clock 28 March 2022 • 5 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read