LONDON (ShareCast) - (Sharecast News) - Financial services firm Just Group said on Thursday that its solvency ratio had dropped in April as a result of falling interest rates as governments grappled with the economic fallout of the coronavirus pandemic.
Just Group posted a three point drop in its Solvency II coverage ratio, which dictates the amount of capital an insurer must hold to reduce the risk of insolvency, to 138% as central banks across the globe cut interest rates to near-zero as part of an effort to stimulate their economies amid the Covid-19 pandemic.

Excess capital grew ?60m in the first four months of the year and expects to continue delivering positive organic capital generation in 2020 and beyond.

Just Group also stated its markets were proving "resilient" in the face of "considerable challenges", with retail sales 25% below expectations and first-quarter retirement income sales in line with guidance.

As of 0845 BST, Just Group shares were down 1.29% at 48.82p.

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