- Just Group said it would target further cost cuts in its US care business and UK income drawdown as part of a plan to achieve capital self-sufficiency by 2022.

The company said it was adapting its intellectual property led model to deliver a business which was performing well commercially and operationally, and added that its 'more capital efficient new business means we again meet our target mid teen hurdle rate of return on shareholder capital invested in new business.'

'We have a good business which is performing well commercially and operationally. We have a strong position in attractive markets and will use these positive market dynamics together with our market-leading expertise to reduce new business capital strain. At the same time as developing our strategic and business options, we are sharply focused on using our existing capital base wisely and are committed to achieving capital self-sufficiency by 2022,' said David Richardson, Interim Group Chief Executive Officer.

Story provided by