Phoenix Group

Rank#1969

Market Cap10.43B

CountryUnited Kingdom

Summary

Phoenix Group Holdings plc operates in the long-term savings and retirement business in Europe. The company operates through four segments: UK Heritage, UK Open, Europe, and Management Services. It provides a range of pensions and savings products to support people across various stages of the savings life cycle. The company manages Heritage in-force life and pensions policies; and offers and manages long term savings and pensions products. Its products include with-profits and unit-linked funds, and annuities; and workplace pensions, and individual savings and retirement solutions. The company serves individuals, corporates, and employers. It has a strategic partnership with abrdn plc, TCS, and HSBC. Phoenix Group Holdings plc was founded in 1782 and is based in London, the United Kingdom.

History

The company was founded in 1857 as The Pearl Loan Company and operated from the Royal Oak Public House opposite the Whitechapel Bell Foundry. It changed its name to The Pearl Assurance Company in 1914, when it moved to 252 High Holborn where it was based until moving its head office to Peterborough 1989. In 1990, it was acquired by the Australian insurance group, AMP, and in 2003, Pearl, NPI and London Life were demerged from AMP to become part of Henderson Group.In 2005, the Pearl Group was bought from Henderson Group by Sun Capital Partners and TDR Capital. It acquired Resolution Life in 2008. In 2009, the business was acquired by the Liberty Acquisition Holdings Company , which subsequently renamed itself Pearl Group.In 2010, Pearl Group rebadged as Phoenix Group Holdings. In March 2014, the business sold Ignis Asset Management to Standard Life Investments, the asset management arm of Standard Life.In 2018, Phoenix Group agreed to acquire Standard Life Assurance from Standard Life Aberdeen for £2.9 billion. As part of the transaction Standard Life Aberdeen retained a stake in the combined group.In 2020, Phoenix completed the acquisition of fellow closed book specialist ReAssure Group from Swiss Re.In 2021, it was announced that Phoenix had acquired the rights to the Standard Life brand and had undertaken additional steps to simplify the relationship with Standard Life Aberdeen that had developed since the acquisition of the Standard Life business three years previously.

Mission

Our mission is to provide our customers with the highest quality of life assurance, pensions and asset management products and services. We are dedicated to helping people and companies in the UK and around the world with their long-term financial security.

Vision

Our vision is to be recognised as an industry leader in providing innovative, customer centric, and cost effective long-term financial solutions.

References

https://en.wikipedia.org/wiki/Phoenix_Group

https://in.investing.com/equities/phoenix-group-holdings

https://finance.yahoo.com/quote/PHNX.L/profile?p=PHNX.L

https://www.comparably.com/companies/phoenix-contact/mission

https://www.crunchbase.com/organization/phoenix-group-229b

https://companiesmarketcap.com/

https://www.thephoenixgroup.com

Leadership team

Mr. Andrew David Briggs FIA, M.B.E. (Group CEO & Director)