Just Group results for the six months to end of June 2025 reveal an underlying operating profit of £192m down from £249m for the first half of 2024.

The pension and lifetime mortgage specialist said the drop in profits was driven by lower new business margins on lower sales, offset by higher recurring in-force profit.

Retirement income sales for the period came in at £2.2bn -down from £2.5bn for half-year 2024.

Commenting on the latest figures group chief executive David Richardson said: “I am pleased with the performance in the first six months of 2025, particularly given the quieter level of transactions in the defined benefit (DB) market at the beginning of the year. With multiple opportunities available to us, the second half of the year is already shaping up to deliver a strong six months of sales for the group.”

“We remain disciplined, continue to execute strongly and are investing in the business to support our future growth. We are putting all the building blocks in place to build on the substantial progress we’ve delivered. We operate in fundamentally attractive markets and are confident in our ability to consistently compound value.”

On 31 July 2025, the company announced the recommended cash offer for Just by Brookfield Wealth Solutions.