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"
Image:

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

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Merry Christmas from Professional Pensions

Merry Christmas from Professional Pensions

Back on 2 January 2026

Professional Pensions
clock 24 December 2025 • 1 min read
The top news stories of 2025 on Professional Pensions

The top news stories of 2025 on Professional Pensions

PP looks at the biggest pensions news stories over the last 12 months

Professional Pensions
clock 24 December 2025 • 2 min read
News Digest: Call me Scrooge, but it's time to scrap pensioners' Christmas bonus

News Digest: Call me Scrooge, but it's time to scrap pensioners' Christmas bonus

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

Professional Pensions
clock 24 December 2025 • 1 min read
Trustpilot