Partnership Assurance

Partnership Assurance Group plc is a provider of non-standard annuities for individuals with medical or lifestyle conditions. In April 2016 it became part of the JRP Group.

Partnership Assurance Group plc
TypeFinancial Services
IndustryFinancial Services
Founded1995
HeadquartersLondon, United Kingdom
Key people
Chris Gibson-Smith (Chairman)
Steve Groves (CEO)
Revenue£452.6 million (2014)[1]
£24.1 million (2014)[1]
£18.8 million (2014)[1]
Websitewww.partnership.co.uk

History

The company was established as a management buyout of the Pension Annuity Friendly Society with funding from Phoenix Equity Partners in September 2005.[2] Cinven acquired the company in August 2008 and it was the subject of an initial public offering in June 2013.[3] In December 2014, Partnership completed the UK's largest medically underwritten bulk annuity transaction – a £206 million ‘top-slicing’ deal with Taylor Wimpey.[4]

In April 2016 the company merged with Just Retirement to form JRP Group.[5]

Operations

The company is a provider of annuities for people with medical conditions.[3]

References
  1. "Results for year ended 31 December 2014" (PDF). Partnership Assurance. Retrieved 29 June 2015.
  2. "Ill health looks good to Cinven". Financial Times. 9 June 2008.
  3. "Cinven eyes £1bn float for Partnership Assurance". The Telegraph. 13 May 2013. Retrieved 13 September 2013.
  4. "Taylor Wimpey Annual Report and Accounts 2014". Taylor Wimpey. 29 June 2015. Retrieved 20 March 2015.
  5. "Just Retirement/Partnership merger complete; JRP Group formed". 4 April 2016. Retrieved 16 April 2016.
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