Just Group reaches £40m savings target early and seeks staff

RETIREMENT specialist Just Group, created from last year’s tie-up of Just Retirement and Partnership, is looking to beef up its workforce after hitting a £40m savings target a year earlier than planned.

The FTSE 250 life insurer has hired Kathryn Grey, the Legal & General executive, as its group HR director, with Rodney Cook, chief executive, telling The Daily Telegraph that the group now wants to fill around 60 jobs.

The hiring drive comes as the company – formed after the two legacy groups saw their shares slammed by reforms to pensions that weakened demand for annuity products – said it has lifted its savings target to £45m.

The group has cut costs by closing its Redhill office, freeing up two floors in its London building and reviewing a swathe of external contracts.

In a business update for the six months to June 30, the group also said it had seen its new business sales rise 3pc on last year to £975m. Shares in Just Group closed up 6pc at 131.5p yesterday.