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"
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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...

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