Phoenix Group, Europe’s largest life and pensions consolidator, had a highly successful night at the Insurance Investment Exchange Awards winning two of the four awards available for insurers, to be named ‘Best Insurer Investment Team’ and ‘Best Life/Annuity Insurer or Reinsurer’.

The judges acknowledged that 2018 had truly been ‘a transformational year for Phoenix’, in which the Group increased its assets under management from £74bn to £226bn with the acquisition of Standard Life Assurance Limited. During this period, Phoenix Group delivered £664m of cash generation and £1.3bn over 2017-18 beating top end expectations of £1.2bn.

The Group, as a whole, performed exceptionally across the year, with the newly re-named Phoenix Group Capital enjoying a particularly successful period. This team outperformed targets of sourcing c£1bn in illiquid assets bringing in £1.4bn; this was critical to Phoenix's financial results, delivering £130m of cash generation. As the judges of the Insurance Investment Exchange Awards noted, Phoenix Capital ‘faced major challenges but met – and exceeded – just about every target they were set.’

Scott Robertson, Head of Phoenix Group Capital, comments: “It’s fantastic to see that both Phoenix Group and the Phoenix Group Capital team have been recognised for our hard work over the past 12 months.”

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Enquiries

Shellie Wells
Head of Corporate Communications
Phoenix Group
020 3735 0922 / 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 FTSE100 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.