LONDON (ShareCast) - (Sharecast News) - Shares in retirement products company Just Group surged as the Prudential Regulation Authority said it has delayed a decision on home equity release capital adequacy rules.




The PRA said the implementation date for its equity release mortgage proposals - the consultation period for which closed on 30 September - will be delayed by at least a year.

It said in a statement on Thursday: "Based on feedback to the consultation, the PRA has decided that the implementation date will not be before 31 December 2019.

"The PRA is making this announcement now in order to clarify the position for insurers planning their year-end 2018 processes. The PRA is currently giving careful consideration to the consultation responses and the impact, if any, of the updated implementation date to the proposed phase-in period. The PRA will publish final policy and supervisory statements in due course."

The implementation date had been expected to be the end of December.

At 1400 BST, Just Group shares were up 12.3% at 83.50p, having risen to as high as 95p earlier in the day.

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