Company
Phoenix Group Holdings PLC
LON:PHNX
Phoenix Group is a closed life assurance fund consolidator that specialises in the management and acquisition of closed life and pension funds, and operates primarily in the United Kingdom. Measured by total assets, the group is the largest UK consolidator of closed life assurance funds. The group has over 5.6 million policyholders and £74 billion of assets held by the Group’s life companies.
54 stories
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Aviva, L&G and Phoenix rise as Solvency II reforms get the thumbs up
Industry body, the Association of British Insurers (ABI), highlighted in particular the proposed reduction to the risk margin by 65% for life insurers and 30% for non-life insurers.
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Phoenix puts up its dividend by 3% after surge in bulk annuities sales
The insurer now expects full-year cash generation to be at the top end of its £1.3bn-£1.4bn target range
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FTSE 100 closes with modest gains after see-saw session on weak China data; US stocks turn mixed
At the close, the UK blue-chip index was up 8.26 points, or 0.1% at 7,509.15, midway between the session peak of 7,539.21 and the day’s low of 7,463.51
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Phoenix Group acquires Sun Life UK for £248mln and plans to raise dividend
The savings and pensions company said it continues to see M&A as a strategic priority going forward and a core part of the group's growth strategy
Abrdn to return cash to shareholders after selling down stake in Phoenix Group PLC
The investment manager will retain a holding of roughly 10.4% and said its strategic partnership with Phoenix “remains important for us”
Archive
Phoenix Group offloads Ark Life Assurance in £200mln deal
The group has agreed to sell the business to insurance and pensions firm Irish Life Group for around €230mln in cash
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FTSE 100 closes at session low, dropping back with US blue chips; oil prices hold firm
At the close, the UK blue-chip index was 15.95 points weaker at 7,074.06, the session low and well below the day’s peak of 7,12940
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Phoenix Group mulls sale of European businesses
Sky News reported last night that the life and pensions group was finalising a sale of the European business to ELG
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Phoenix Group confirms buyer interest in European business
Phoenix Europe arm operates in the life insurance market, with operations across Ireland, Germany and the UK
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Phoenix Group sees more acquisition opportunities after ReAssure deal
ReAssure cost £3.25bn and added 14mln life policies and £324bn of assets under management
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Phoenix to buy UK closed-book arm from SwissRe for £3.25bn
ReAssure had previously planned a US$4.1bn flotation, but abandoned the plan in July after a weak response from institutional investors
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Phoenix Group throwing off cash but new business lower
The life insurance consolidator has written £1.1bn of on new bulk purchase annuities in the first three quarters of 2019
Phoenix lines up Aviva UK insurance head as CEO designate
Andy Briggs will take over in March when Clive Bannister retires after nine years in the top job
Phoenix shares advance as it hikes dividend after profits jump
Phoenix said a deal to buy the bulk of Standard Life Aberdeen's insurance business last year was on track to deliver £1.2bn in savings
ReAssure to float in London as part of spin-out from parent Swiss Re
The closed-book specialist is the sixth largest life insurance group in the UK by total assets
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FTSE 100 closes higher at traders focus on Federal Reserve's dovish tone
The FTSE 250 though, seen as a better indicator of the state of UK companies, closed down around 41 points at 19,347.
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Clothes retailers Next and Ted Baker in the spotlight on Thursday
Not much excitement is expected from the Bank of England, so investor attention will instead be on two of the UK’s troubled clothes retailers: Ted Baker and Next
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Spring Statement to dominate on Wednesday amid fallout from Brexit deal vote
While major fiscal measures are not expected, the result of Tuesday's vote on Theresa May's Brexit deal could put the chancellor on the spot
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Phoenix hikes final dividend as it beats cash generation target after Standard Life Assurance deal
“There remains great uncertainty about the timing and terms of the UK's withdrawal from the EU,” said chief executive Clive Bannister
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Direct Line to report higher 2018 profits despite large weather-related claims
The day ahead includes full year results from Direct Line and GVC along with a trading update from Ashtead
Just Eat to re-join FTSE 100 index next month, just one quarter after demotion; Phoenix Group also gains blue chip status
The FTSE UK indexes quarterly reshuffle was announced after the London market close on Wednesday, with the changes to come in effect at the start of trading on Monday 18 March
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Phoenix has most defensive dividend yield among life insurers as Brexit looms, says Barclays
Barclays upgraded its rating on Phoenix to 'equal weight' from 'underweight' but left its target price at 680p, noting that shares have fallen in line with peers over the past year
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RBC upgrades Aviva to ‘Top Pick’, says buy before new CEO takes control
In a note, the bank’s analysts said the incoming CEO would be able to “take advantage of the key growth areas of the UK market” which would likely drive up the share price
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Phoenix Group beats cash generation target for 2017 and 2018 as more companies shift pension risks
The FTSE 250-listed firm said its cash generation hit £1.3bn in the 2017 and 2018 period, higher than the £1bn to £1.2bn targeted range, with £644mln of cash generated in 2018 and £653mln in 2017
Investments and investor services
FTSE 100 closes in red as trade worries and Brexit fears put investors off
The UK index of leading shares finished Thursday down around 11 points, or 0.15%, at 7,563.
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CRH to provide progress report on margin improvement initiatives
There are not many heavyweights expected to release results on Thursday but plenty will be going ex-dividend
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World biggest miner, BHP Billiton the main focus as results flow set to slow in coming week
Only three other FTSE 100-listed companies are scheduled to unveil updates – housebuilder Persimmon, Irish construction group CRH, and Middle East hospitals operator NMC Healthcare
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Phoenix Group's Standard Life transaction a win-win deal
It's a beneficial deal for both sides: It increases Phoenix’s assets under management and cash generation while making Standard Life "a capital-lite asset gatherer" focused on asset management and UK platforms
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FCA to take no action against Lloyds Banking Group's Scottish Widows unit after long-running probe
The regulator had been investigating Scottish Widows and five other insurers since March 2016 after conducting a review of their treatment of longstanding customers
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Phoenix Group launches around £950mln rights issue to fund part of cash consideration for Standard Life Assurance acquisition
The FTSE 250-listed insurer said, under the rights issue, shareholders can apply for 7 new shares for every 15 existing ones held at a price of 518p each
Axa to sell Sun Life business
The French insurance company is to sell its UK investment, pensions and insurance business to UK insurer Phoenix Group