Andy Briggs

Phoenix Group has reported a £36m increase in group operating profit in the first six months of this year, as well as strong cash generation of £433m.

Michael Eakins has been appointed as chief investment officer (CIO) at Phoenix Group, subject to regulatory approval and completion of the acquisition of ReAssure.

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