Brookfield Wealth Solutions (BWS) has completed the acquisition of Just Group, effective 1 April 2026.
The transaction, executed via BWS Holdings Ltd, was implemented through a court-sanctioned scheme of arrangement under the Companies Act 2006.
Under the terms of the acquisition, Just shareholders received 219.16 pence in cash per share.
Settlement is expected to be completed within 14 days of the effective date.
BWS announced plans to acquire Just Group in July 2025, looking to combine Just and its insurance company Blumont to operate as a single consolidated insurance group under Just’s brand.
Following completion, Just’s shares are set to be delisted from the Financial Conduct Authority’s Official List, with trading on the London Stock Exchange’s main market expected to cease on 2 April 2026.
Following the acquisition, Just has confirmed a new board of directors, with John Hastings-Bass stepping down as group chair and being succeeded by Sir Nigel Wilson.
The wider board reshuffle included several departures and new appointments, reflecting the transition to Brookfield ownership.
In addition, Just confirmed amendments to its £325m restricted tier 1 notes, which will remain convertible into ordinary shares upon the occurrence of a trigger event and continue to qualify as regulatory capital post-acquisition.
Commenting on the acquisition, Hymans Robertson partner and risk transfer specialist, Michael Abramson, said its completion “is an encouraging signal for the bulk annuity market”.
“While we expect that this will effectively reduce the number of active insurers from eleven to ten as Brookfield also own Blumont, the combination of Brookfield’s global investment reach and Just’s established operational expertise should add meaningful capacity to the market,” he added.
