Phoenix sells Ark Life Assurance for £197m

The sale comes one year on from Phoenix acquiring rival life insurer ReAssure Group

Tom Ellis
clock • 1 min read

Phoenix has agreed to sell Ark Life Assurance Group (ALAG) – acquired as part of Phoenix's acquisition of ReAssure in 2020 – to Dublin-based pensions and life assurance firm Irish Life Group for £197m .

ALAG represented £1.8bn assets under administration (AUA) within the firm's heritage division; it is a closed book business made up of heritage savings and protection products in Ireland.  Phoen...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Three more organisations sign up to Dashboard Operators Coalition

Three more organisations sign up to Dashboard Operators Coalition

Aviva, Scottish Widows and Mintago join the coalition of potential dashboard operators

Holly Roach
clock 20 May 2024 • 3 min read
Buzz: Are you considering a return of surplus to the sponsor?

Buzz: Are you considering a return of surplus to the sponsor?

Returning surpluses to sponsors, implementing generative AI, and pensions policy

Professional Pensions
clock 20 May 2024 • 1 min read
News Digest: UK pension providers in backlash over green league tables

News Digest: UK pension providers in backlash over green league tables

PP brings together all the latest news on pensions from across the national and financial media

Professional Pensions
clock 20 May 2024 • 1 min read
Trustpilot