BUSINESS UPDATE FOR THE PERIOD ENDED 30 SEP 2018

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·	Retirement Income sales for 9M18 were 44% higher than for 9M17, driven by the continued growth in Defined Benefit De-risking ("DB") sales.
·	DB sales for 9M18 were up 91% to £1,081m. The market for de-risking is buoyant and we are being increasingly selective to maximise returns.
·	Guaranteed Income for Life ("GIfL") sales for 9M18 were up 3% to £627m. Volumes have slowed as pricing increases have taken effect.
·	Lifetime Mortgage ("LTM") advances of £483m were up 32% on 9M17. This is in line with the very robust market growth we are seeing.
·	Just Group has submitted its response to consultation paper ("CP") 13/18 and awaits the publication of the Prudential Regulation Authority's ("PRA") final supervisory statement. The Board is preparing for a wide range of possible outcomes and remains in constructive dialogue with the PRA.

Just Group new business¹	9 months to 30/09/18	9 months to 30/09/17	Change	3 months to 30/09/18	3 months to 30/09/17	Change
	£m	£m	%	£m	£m	%
Defined Benefit De-risking	1,081	564	91	363	269	35
Guaranteed Income for Life	627	607	3	201	217	(8)
Care Plans	52	52	0	17	18	(3)
Retirement Income sales	1,760	1,223	44	581	504	15
Drawdown	38	37	4	14	14	1
Total Retirement sales	1,798	1,260	43	595	518	15
Protection²	1	4	NM	-	1	NM
Lifetime mortgage loans advanced	483	367	32	170	137	25
Total new business sales	2,282	1,631	40	765	656	17

3 months to:	30 Sep 2018	30 Jun 2018	31 Mar 2018	31 Dec 2017	30 Sep 2017	30 Jun 2017	31 Mar 2017	31 Dec 2016	30 Sep 2016
Defined Benefit De-risking	363	469	249	434	269	170	125	365	414
Guaranteed Income for Life	201	238	188	213	217	216	174	174	207
Care Plans	17	18	18	20	18	17	17	19	20
Retirement Income	581	725	454	666	504	403	317	559	641
Drawdown	14	13	11	14	14	11	12	10	9
Total Retirement sales	595	738	465	681	518	414	328	569	650
Protection²	-	-	1	2	1	1	2	1	2
LTM loans advanced	170	162	151	142	137	124	107	95	143
Total new business sales	765	900	617	826	656	539	436	665	795

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