JUST retirement Group – an idea whose time has come?

Bought into Just retirement group at about 92p a week or so ago. Again, a small position due to volatility, this is 2.5% of my portfolio.  I delayed posting this as I wanted to avoid moving the price up and wanted to try and pick some more up at a lower price – but as it is now 100p that isn’t happening any time soon.

This is a life assurer with a 911m market cap trading at a price to book of around 0.5.  It has a yield of about 3.4% and a forecast PE of around 5.4. In summary, it is cheap.

You can also buy for free if you sign up via the link here.

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Partnership Assurance – Post Pensions Plunge Position!

Opened small position in Partnership Assurance at 143 this morning (Current Price c 135).  Will look to pick a few more up at c122 if we get down there again today. (Should have used yesterday’s low as level rather than close – ahh well…)

Yesterday the budget announced the removal of the requirement to buy an annuity for those with defined contribution pensions.  As annuities are horrible value and make up practically all Partnership Assurance’s business the reaction was, severe.  The share fell from 300 in the morning to close at 143.

I think this is overdone.  I am not an insurance co expert so if I make any obvious mistakes please feel free to let me know