Phoenix

Life insurer ReAssure has posted strong 2019 results as it prepares to be merged into rival Phoenix Group by the middle of the year.

Phoenix Group has confirmed the acquisition of rival life insurer ReAssure Group with the deal set for completion in the next six months.

Phoenix Group has laid down a proposal to acquire rival life insurer ReAssure Group in a £3.2bn cash and shares deal.

Phoenix Group chief executive Clive Bannister is to leave the business and be replaced by ex-Aviva boss Andy Briggs next March.