Just Retirement and Partnership Assurance to complete merger in January

The proposed merger of Just Retirement Group and Partnership Assurance Group will be completed in early January rather than in late December, the retirement products provider said.

In August this year, the two companies agreed a £1.66bn merger, which will form JRP Group, and expected it to be concluded late next month.

However, because the Prudential Regulation Authority, the UK financial regulator, will make a decision on Just Retirement's Solvency II Internal Model application early next month, they now expect to conclude the merger early in 2016.

Just Retirement shares were down 2.38% to 160.00p at 0820 GMT on Monday.