Just Group published its 2025 Solvency and Financial Condition Report (SFCR) in March, ahead of the Solvency UK official publication date of 27 May 2026.
Figures in the SFCR reveal that the group’s solvency ratio dropped from 211% in 2024 to 179% in 2025.
The eligible own funds to meet the Solvency Capital Requirement (SCR) also dropped in 2025. This, coupled with an increase in the SCR, has driven the reduction in the ratio.
Just group eligible capital drop
The reduction in the eligible own funds is reflected in the make-up of the capital structure.
The amount of tier 2 capital has grown over the period, while tier 1 restricted capital reduced.
