6 million customers
Around 1300 staff
Member of FTSE 250 index
Listed on the London Stock Exchange
Group assets under management – £68.5 billion
Operating companies’ cash generation – £496 million
Group MCEV – £2,203 million
Group IFRS operating profit – £136 million
Asset Management IFRS operating profit – £18 million
IDG capital surplus (estimated) – £1.1 billion
THE GROUP HAS £68.5 BILLION1 ASSETS UNDER MANAGEMENT AND SERVES MORE THAN
6 MILLION1 POLICYHOLDERS.
Our purpose is to decommission closed life funds safely, innovatively and profitably – improving returns for our customers and delivering value for our shareholders.
A fund is defined as ‘closed’ if no new policies are being sold. In the UK, there are about 70 closed life funds with a value of more than £190 billion, amounting to one-fifth of the long-term insurance sector.
For more information on what makes Phoenix different, please read our corporate purpose.
1 As at 30 June 2011.
Clive Bannister, Group Chief Executive