When Just Retirement and Partnership Assurance merged we placed our forecasts, recommendation and target price under review. In this note we reinitiate coverage with a Buy recommendation and publish revised forecasts based on the combined business. We anticipate that the £40m of cost synergies will make a significant difference to the business and that this will result in a material increase in new business profitability. The growth outlook for JRP is good and we believe that it has suf
