Phoenix Group to acquire Sun Life UK for £248m

Deal follows the acquisition of the Standard Life brand from Abrdn last year

Jenna Brown
clock • 1 min read
Briggs: "We expect this acquisition to deliver incremental long-term cash generation of around £470m"

Briggs: "We expect this acquisition to deliver incremental long-term cash generation of around £470m"

Phoenix Group is to acquire closed book UK life insurance company Sun Life UK from Sun Life Financial for £248m.

It said the acquisition is expected to deliver £470m of incremental long-term cash generation, with about 30% of this in the first three years. The deal is subject to regulatory approvals and is ex...

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?


More on Risk Reduction

L&G bulk annuity pipeline sitting around £25bn

L&G bulk annuity pipeline sitting around £25bn

LGRI conducted £4.4m in pension risk transfer business in the first half of 2022

Hope William-Smith
clock 09 August 2022 • 2 min read
Sonya Fraser

Can a scheme's endgame be to simply run on?

Sonya Fraser considers whether trustees are still aiming for the ‘gold standard’ – a buyout

Sonya Fraser
clock 09 August 2022 • 3 min read
The risk reduction market has experienced strong growth over the past ten years

Updated: The biggest buy-ins and buyouts since 2007

Professional Pensions rounds up the largest block transfers of liabilities to insurers

Professional Pensions
clock 08 August 2022 • 1 min read