RNS Number : 8336H
JRP Group PLC
23 August 2016
NEWS RELEASE
www.jrpgroup.com
23 August 2016
JRP GROUP PLC
TRADING UPDATE
Ahead of its scheduled results date, JRP Group plc announces that:
· Since the update on 11 May, trading to 31 July
continued in-line with expectations in each of Defined Benefit De-risking, individual Guaranteed Income for Life Solutions and
Lifetime mortgages.
· We expect to report an embedded value at 30 June
2016 above 200p per share.
· The Group remains comfortably capitalised under
Solvency II and expects to confirm that its Solvency Capital ratio at 30 June 2016 was around 130%.
The merger continues to progress in line with expectations, and we will update the market on our
progress towards achieving the targeted cost savings of at least £40m in due course.
Rodney Cook, Group Chief Executive, said:
"In these volatile times we wanted to reassure the market ahead of our results. Our merger
is progressing well and we remain focused on making money for our shareholders by offering good value to our
customers."
FINANCIAL CALENDAR:
|
Date
|
Interim Results for the period ended 30 June 2016
Capital markets day
|
15 September 2016
5 October 2016
|
Enquiries
Investors / Analysts
James Pearce, Group Investor Relations Director
Telephone: +44 (0) 7715 085 099
james.pearce@justretirement.com
|
Media
Stephen Lowe, Group Communications Director
Telephone: +44 (0) 1737 827 301
press.office@justretirement.com
Temple Bar Advisory
Alex Child-Villiers
William Barker
Telephone: +44 (0) 20 7002 1080
|
A copy of this announcement will be available on the JRP website www.jrpgroup.com
JRP GROUP PLC
GROUP COMMUNICATIONS
Vale House, Roebuck Close
Bancroft Road, Reigate
Surrey RH2 7RU
Forward looking statements disclaimer:
This announcement in relation to JRP Group plc and its subsidiaries (the 'Group') contains, and we
may make other statements (verbal or otherwise) containing, forward-looking statements about the Group's current plans, goals and
expectations relating to future financial conditions, performance, results, strategy and/or objectives.
Statements containing the words: 'believes', 'intends', 'expects', 'plans', 'seeks', 'targets',
'continues' and 'anticipates' or other words of similar meaning are forward-looking (although their absence does not mean that a
statement is not forward-looking). Forward-looking statements involve risk and uncertainty because they relate to future events
and circumstances that are beyond the Group's control. For example, certain insurance risk disclosures are dependent on the
Group's choices about assumptions and models, which by their nature are estimates. As such, although the Group believes its
expectations are based on reasonable assumptions, actual future gains and losses could differ materially from those that we have
estimated.
Other factors which could cause actual results to differ materially from those estimated by
forward-looking statements include but are not limited to: domestic and global economic and business conditions; asset prices;
market related risks such as fluctuations in interest rates and exchange rates, and the performance of financial markets
generally; the policies and actions of governmental and/or regulatory authorities, including, for example, new government
initiatives related to the provision of retirement benefits or the costs of social care and the effect of the European Union's
"Solvency II" requirements on the Group's capital maintenance requirements; the impact of inflation and deflation; market
competition; changes in assumptions in pricing and reserving for insurance business (particularly with regard to mortality and
morbidity trends, gender pricing and lapse rates); risks associated with arrangements with third parties, including joint
ventures and distribution partners; inability of reinsurers to meet obligations or unavailability of reinsurance coverage; the
impact of changes in capital, solvency or accounting standards, and tax and other legislation and regulations in the
jurisdictions in which the Group operates.
As a result, the Group's actual future financial condition, performance and results may differ
materially from the plans, goals and expectations set out in the forward-looking statements within this announcement. The
forward-looking statements only speak as at the date of this document and the Group undertakes no obligation to update or change
any of the forward-looking statements contained within this announcement or any other forward-looking statements it may make.
Nothing in this announcement should be construed as a profit forecast.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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