Partnership

What Partnership does

Partnership operates as a retirement-focused financial services brand within Just Group plc, a FTSE-listed UK specialist financial services group created in April 2016 through the merger of Just Retirement Group and Partnership Assurance Group. The group's core proposition is the design, manufacture, and distribution of retirement financial products for UK retirees and pre-retirees, including defined benefit pension solutions, annuities (guaranteed income for life), income drawdown, equity release/lifetime mortgages, care funding plans, and pensions. The group's technical differentiator is health and lifestyle underwriting technology that models longevity and enables 'enhanced terms' on income and retirement-need solutions, allowing customers with health or lifestyle conditions to secure better income than standard products would offer. Products are protected by the Equity Release Council's Statement of Principles.

The business operates through four wholly owned operating subsidiaries: Just Retirement Limited (JRL, established 2004) for annuities and lifetime mortgages with enhanced terms; Just Retirement Money Limited (JRML, established 2016) for lifetime mortgage lending; Partnership Life Assurance Company Limited (PLACL) for care fee insurance with health-aware pricing; and HUB Financial Solutions Limited (established 2006) for direct retirement financial advice. Revenue is generated through insurance premiums (PLACL, JRL annuities), interest on lifetime mortgage lending (JRML), and advice-driven product placement (HUB). The group also operates the Just Adviser platform and a suite of six retirement-planning calculator tools (Quick Income Builder, Longevity, Drawdown Risk, Pension Taxation, Retirement Budget Planner, Indicative Lifetime Mortgage Calculator). Distribution is sales-led and UK-domestic only, primarily through third-party financial advisers with HUB Financial Solutions providing direct advice to individuals. The group has received 21 consecutive years of 5-star Financial Adviser Service Awards in Pensions & Protection (JRL) and 16 consecutive years in Mortgage Provider (JRML) through 2025.

Name

Partnership

Legal name

Just Group plc

Website

https://partnership.co.uk

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

251–500 employees

Short description

Partnership is a UK retirement-focused financial services brand within FTSE-listed Just Group plc, offering annuities, lifetime mortgages, care funding plans, and pensions to UK retirees through financial advisers and direct advice channels.

Ownership category

akta.pro rank

Product category

Retirement Financial Services

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411)

SIC

Life Insurance (6311), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Annuity + LTC / Long-Term Care Riders (FSAIAJAC)

akta.pro secondary industry

Annuity & Insurance-Based Retirement Solutions Advisory (FSAEABAH)

Keywords

• Retirement annuities
• Lifetime mortgages
• Care funding plans
• Equity release products
• Pension income solutions

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Insurance Premiums: PLACL designs and manufactures insurance products to fund care fees, with enhanced income levels for those with health issues. Premium revenue from tailored care funding plans.
2. Lifetime Mortgage Lending: JRML provides lifetime mortgage lending products for people at or approaching retirement. Revenue derived from lending activities including interest on lifetime mortgages.
3. Pension Annuities: JRL provides guaranteed income for life solutions through pension annuities, helping retirees secure better income through enhanced terms based on health and lifestyle assessments.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Partnership designs and manufactures insurance products to fund care fees, offering a range of plans tailored to individual needs with enhanced income levels for those with health issues. Through its role in the Just Group, it also provides guaranteed income for life solutions via pension annuities, lifetime mortgages, income drawdown, defined benefit pension transfers, and pension accumulation products distributed primarily through UK financial advisers.

Product overview

Partnership operates as a multi-brand financial services platform offering retirement-focused products across the Just Group. The core offerings include Defined Benefit pensions, Annuities (guaranteed income for life), Income Drawdown, Equity Release/Lifetime Mortgages, Care Funding Plans, and Pensions. The group also provides a suite of six retirement planning calculator tools (Quick Income Builder, Indicative Lifetime Mortgage Calculator, Drawdown Risk Calculator, Pension Taxation Calculator, Retirement Budget Planner, and Longevity Calculator) to help customers plan their retirement finances. The platform is organized around four main subsidiaries: Just Retirement Limited (established 2004, annuities and lifetime mortgages with enhanced health/lifestyle terms), Just Retirement Money Limited (established 2016, lifetime mortgage lending), Partnership Life Assurance Company Limited (care fee insurance products), and HUB Financial Solutions Limited (established 2006, financial advice on equity release, pension income, and long-term care).

Differentiator

Problem solved

Functional benefit

Brands

• Just Adviser: Financial adviser platform operated within the Just Group.
• Just

Products and services

• Care Funding Plans Insurance products designed and manufactured to fund care fees, offered through Partnership Life Assurance Company Limited (PLACL). Plans are tailored to individual needs and take account of health issues when pricing, providing enhanced income levels to those with health issues to help meet care fees payments.
• Annuities (Guaranteed Income for Life) Pension annuity products providing guaranteed income for life, offered through Just Retirement Limited. Enhanced terms available based on individual health and lifestyle assessments, often securing better income than standard annuity products.
• Equity Release / Lifetime Mortgages Lifetime mortgage products enabling people at or approaching retirement to release equity from their homes, provided through Just Retirement Money Limited (JRML). Protected by the Equity Release Council's Statement of Principles.
• Income Drawdown Retirement product allowing individuals to convert pension savings into a flexible income while keeping funds invested.
• Defined Benefit Transfers Pension product allowing individuals to transfer their defined benefit pension scheme to provide guaranteed income in retirement.
• Pensions Retirement savings products providing individuals with vehicles to accumulate funds for retirement.
• HUB Financial Solutions Advice Financial advice service providing individuals with products and services for retirement financial decisions, including advice on releasing equity from homes, turning pension savings into income for retirement, and funding long-term care. Established in 2006.

Quantifiable outcome

• Thousands of retirees helped to enjoy retirement by securing better income or releasing equity from homes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Eight partnerships are on record, tiered core and minor.

• Just Group plccoreOthers · 1 April 2016Parent FTSE-listed company created following the merger of Just Retirement Group and Partnership Assurance Group in April 2016. Parent holding company for JRL, JRML, PLACL, and HUB Financial Solutions.
• Equity Release CouncilcoreStrategic or Co-development PartnerJRML customers are provided protection by the Equity Release Council's Statement of Principles, which ensures that all products are safe and reliable for customers. This is a regulatory/standards body partnership that provides customer protection framework.
• Just Retirement Limited (JRL)coreOthersSubsidiary established in 2004 specializing in guaranteed income for life solutions (pension annuities) and lifetime mortgages. Has helped thousands of retirees enjoy retirement.
• Just Retirement Money Limited (JRML)coreOthersSubsidiary established in 2016 to take on all lifetime mortgage lending conducted under the Just Retirement brand. Sole focus is providing lending products for those at or approaching retirement.
• Partnership Life Assurance Company Limited (PLACL)coreOthersSubsidiary specializing in the design and manufacture of insurance products to fund care fees. Offers a range of plans tailored to individual needs with enhanced income for those with health issues.
• HUB Financial Solutions LimitedcoreChannel Partner/ Reseller/ DistributorSubsidiary established in 2006 providing individuals with products and services for retirement finances. Provides advice on releasing equity, turning pension savings into income, and funding long-term care. Works with UK's leading financial services companies.
• HUB GroupminorOthersRelated group company within the broader HUB Group ecosystem.
• UK's Leading Financial Services CompaniesminorChannel Partner/ Reseller/ DistributorHUB Financial Solutions works with some of the UK's leading financial services companies to offer some of the best options in the retirement market.

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Aviva: One of the UK's largest insurers with a broad retirement income, annuity, equity release, and care funding product set; directly comparable distribution via financial advisers and similar customer base of UK retirees and pre-retirees.
• Legal & General: Major UK life insurer and one of the largest individual annuity providers, with growing lifetime mortgage and care funding offerings; competes head-to-head with Partnership for defined benefit transfer and enhanced annuity business through the adviser channel.
• Standard Life (part of Phoenix Group): Phoenix-owned heritage brand offering workplace pensions, drawdown, and annuity solutions in the UK; comparable adviser-led distribution and overlapping customer base of pre-retirees and retirees.
• Aegon UK: Aegon's UK platform offers workplace pensions, drawdown, and retirement income products via advisers and platforms; overlaps with Partnership's pre-retirement and at-retirement proposition.
• Scottish Widows (Lloyds Banking Group): Lloyds-owned pensions and retirement income provider with a large UK adviser footprint; competes in the same defined benefit transfer and annuity market as JRL.

Direct peers

• Canada Life (UK): UK division of Canada Life that writes individual annuities, group pensions, and retirement income products via financial advisers — a direct competitor in the enhanced-annuity and retirement income space that Partnership addresses.
• LV= (Liverpool Victoria): UK mutual insurer with retirement, protection, and equity release products distributed through advisers; comparable focus on the advised UK retirement market and similar customer demographic.
• Hodge Lifetime (Brookfield Reinsurance): Specialist UK lifetime mortgage provider focused on the over-55 equity release market, with adviser-led distribution; a direct competitor to JRML's lifetime mortgage book.
• More 2 Life (Oaktree-backed): Specialist UK lifetime mortgage lender focused on later-life lending; competes directly with JRML for adviser-originated equity release business.

Others

• Just Group plc (parent): FTSE-listed parent of Partnership; included as a peer reference point given that the broader Just Group operates overlapping subsidiaries (JRL, JRML, PLACL, HUB) and competes across the same UK retirement product set.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/partnership_
• Facebookfacebook.com/WeAreJustUK
• LinkedInlinkedin.com/company/just-group-plc

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Partnership