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

State pension connects to dashboards ecosystem

State pension connects to dashboards ecosystem

Over 20 million pension records have been connected to the architecture

Holly Roach
clock 09 July 2025 • 2 min read
BoE governor opposes government plans to mandate pension scheme investment

BoE governor opposes government plans to mandate pension scheme investment

Andrew Bailey has said he does not support mandation, with the industry suggesting this will be ‘unwelcome’ at the DWP

Holly Roach
clock 09 July 2025 • 1 min read
News Digest: Is the UK's triple lock pension the carousel that won't stop?

News Digest: Is the UK's triple lock pension the carousel that won't stop?

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

Professional Pensions
clock 09 July 2025 • 1 min read
Trustpilot