Dearth of deals in bulk annuity market allow scheme to accelerate its timeline
This comes despite a £454m pre-tax loss for the six months to 20 June
Phoenix Group completed £2.5bn of buy-ins and buyouts over the course of 2020, including a bulk annuity deal with one of its own schemes.
Standard Life Aberdeen (SLA) is expected to change its name as part of deal with Phoenix Group, which is set to buy the 200-year old Standard Life brand, according to reports.
This week’s top stories included the Marks and Spencer Pension Scheme completing two buy-ins, while the Work and Pensions Committee submitted an amendment to the Pension Schemes Bill.
The Marks and Spencer (M&S) Pension Scheme has completed two buy-ins with Aviva and Phoenix, insuring a total of £750m of benefits.
Professional Pensions spoke to Phoenix Corporate Investment Services senior manager Jess Williams as part of an exclusive series of interviews with some of the finalists and winners of the UK Pensions Awards. This is what she had to say...
Phoenix Group has reported a £36m increase in group operating profit in the first six months of this year, as well as strong cash generation of £433m.
Michael Eakins has been appointed as chief investment officer (CIO) at Phoenix Group, subject to regulatory approval and completion of the acquisition of ReAssure.
Life insurer ReAssure has posted strong 2019 results as it prepares to be merged into rival Phoenix Group by the middle of the year.