The merger of the individual retirement income, care and defined benefit de-risking market firms resulted in JRP Group and gave Just Retirement shareholders 60% with 40% going to Partnership based on completions and business performance.
Rodney Cook, former CEO at Just Retirement, was appointed group chief executive of the group board and staff will be drawn from both companies.
The merger follows a market roller coaster after the annuity changes announced in the 2014 Budget, which took the industry by surprise and heralded plummeting annuity sales.
The Just brand will be rolled out across the group in a phased approach starting with individually underwritten retirement income solutions in January. The company will continue to trade on the London Stock Exchange as JRP Group.
Rodney Cook, group chief executive, said: “Following the merger, a huge amount of work has been undertaken to develop a brand which not only represents the expertise, knowledge and vision of both businesses but highlights our commitment to consumers and our business partners. We are here to help people get the most out of their retirement by providing market leading products, services and making choices easier to understand and decisions more straightforward.”