David Woollett, Head of Customer Strategy and Oversight at Phoenix comments,

“The publication of the Dormant Assets Expansion Scheme Report is a welcome development as the Government considers the options for expanding the programme.

“The report rightly identifies that the number one priority for any expanded scheme must be to ensure that policyholders, who have saved diligently over many years and trusted us with their money, are re-united with the proceeds of their investments. Since September 2016, we have repatriated almost £13 million of lost policies through our proactive campaign to ensure policyholders, or their estates, do not lose out.

“Having actively contributed to the development of the report, we look forward to continuing to work with the Government as it examines the next steps for any expanded scheme.”

Further information on the Government’s Dormant Assets Expansion Scheme Report can be found here

-Ends-

Enquiries

Shellie Wells
Head of Corporate Communications
Phoenix Group
07872 414 137
shellie.wells@thephoenixgroup.com

Darcy Lillie
Media Relations Consultant
Phoenix Group
020 3735 0102 / 07814 773 280
darcy.lillie@thephoenixgroup.com

Notes to editors

Phoenix Group is Europe's largest life and pensions consolidator, specialising in the acquisition and management of closed life insurance and pension funds – known as heritage books. Phoenix is the largest consolidator of heritage life insurance books in Europe but also runs an open book underpinned by a strategic partnership with Standard Life Aberdeen. The Group is a member of the FTSE 100 index, and has over 10 million policies and £226 billion of assets under management – including the recently acquired Standard Life Assurance business. With operations in the United Kingdom, Ireland and Germany, the Group has four operating life companies which hold policyholder assets, and a distribution business, SunLife Limited.