Phoenix Group
Quilter completes £445m sale of assurance business
The sale of Quilter's life assurance business to ReAssure has been confirmed.
Phoenix Group looks to acquire rival ReAssure for £3.2bn
Phoenix Group has laid down a proposal to acquire rival life insurer ReAssure Group in a £3.2bn cash and shares deal.
Bulk annuity market breaks yet another record with £17bn of first half deals
Around £17.5bn of buy-ins and buyouts were transacted in the first half of the year as market records continue to tumble.
Phoenix completes further £1.1bn buy-in with own scheme
Phoenix Life has completed a £1.1bn buy-in with its own defined benefit (DB) plan, the PGL Pension Scheme, it has announced.
PICA launches reinsurance counterparty to back UK bulk annuities
Prudential Insurance Company of America (PICA) has launched a reinsurance counterparty, lending support to insurers that account for more than 90% of the UK pension risk transfer market.
FCA fines Standard Life Assurance £31m for non-advised annuity sales failures
The Financial Conduct Authority (FCA) has fined Standard Life Assurance (SLA) nearly £31m after its practices led to conflicts of interest and SLA employees putting their financial needs above those of the firm's customers.
Five stories you may have missed this week
This week's top stories included The Pensions Regulator criticising Sir Philip Green's latest plans for the Arcadia pension schemes.
M&S completes £1.4bn buy-ins with Phoenix and PIC
The Marks and Spencer Pension Scheme has completed buy-in deals worth £1.4bn with two insurers, mirroring similar transactions last year.
Phoenix delivers £800m of bulk annuities in first year in market
Phoenix Group transacted £800m of bulk annuities in 2018, its first year in the market since completing a deal with its own scheme two years ago.
Five stories you may have missed this week
This week's top stories include the Ombudsman's determination against Royal London, and the ECJ's ruling that PPF compensation must amount to 50% of member benefits.
SLA completes £3bn sale of Standard Life Assurance to Phoenix
Expanding strategic partnership
SLA's O'Dwyer and Fleming appointed as non-exec directors of Phoenix Group
Barry O'Dwyer and Campbell Fleming, both senior figures at Standard Life Aberdeen, are to become non-executive directors of Phoenix Group.
M&S completes buy-ins totalling £1.4bn with Aviva and Phoenix Group
The Marks and Spencer (M&S) Pension Scheme has insured around 15% of its pensioner liabilities through two bulk annuity insurance policies with Aviva and Phoenix Group.
Phoenix to make 'accretive' entry to bulk annuity market
Phoenix has confirmed it will enter the buy-in and buyout market on an "incremental" basis after completing its first buy-in with its own pension scheme in 2016.
Confusion prevails over cold calling ban; govt 'to consult again'
The government's plans to ban pensions cold calling could be subject to further delays amid speculation that yet another consultation is on the cards.
AB selects Mobius Life as fund administrator for TDF range
Mobius Life has been chosen as fund administrator for AB's target-date funds (TDFs) as the fund manager looks to expand opportunities for its clients.
How PGL's longevity swap was converted into a buy-in
Phoenix Group's senior corporate pensions actuary Richard Zugic speaks to PP about how a longevity swap was transformed into a bulk annuity for the PGL Pension Scheme in the first deal of its kind.
Buy-ins and buyouts top £10bn for third year in row
De-risking deals hit £10.2bn last year thanks to a busy second half as concerns over Solvency II waned, according to Lane Clark & Peacock (LCP).
Phoenix Group: number of cold calls increases to over quarter of UK adults
The number of UK adults who received cold calls about their pension rose to 26% according to research commissioned by Phoenix Group.
Aegon UK appoints CFO
Stephen McGee has been appointed chief financial officer (CFO) of Aegon UK effective immediately.
Phoenix acquires Abbey Life for £935m
Closed book consolidator Phoenix is to acquire Abbey Life from Deutsche Bank for £935m.
Phoenix Group appoints ex-Unilever pension CIO
Wendy Mayall who is the former chief investment officer (CIO) of Unilever's pension fund has been made a non-executive director at Phoenix Group.
Brexit uncertainty leads to rise in pension scams
Scammers are using Brexit concerns to try to con people into transferring their pension savings to suspicious overseas schemes, according to Phoenix Group.
Big cuts expected at Tata-owned Diligenta
Major jobs cuts are anticipated at pension services firm Diligenta which provides services to some of the biggest pension insurers.
