Phoenix Group has confirmed it is exploring the potential sale of its SunLife business.
SunLife, which joined Phoenix in 2017, provides financial protection products to the UK’s over-50s market and reported a profit after tax of £16m in 2023.
Across the whole Phoenix business, the group posted an IFRS adjusted operating profit of £617m in 2023.
Following a strategic review, however, Phoenix has concluded that SunLife is “no longer core” to the delivery of its vision and the Phoenix board has now decided to begin a sale process.
In a statement to the London Stock Exchange, Phoenix revealed that it had received “a number of initial expressions of interest” from third parties.
“There can be no certainty at this stage that a disposal will occur,” the group also added.
Phoenix confirmed it would make a further announcement on the sale process in due course.
Latest News
-
UK tax receipts rise £19.1bn
-
IHT receipts jump £100m year-on-year in July
-
One in five UK adults has no financial safety net
-
Homeowners face multi-year wait to recover moving costs
-
Majority of prospective FTBs wrongly believe debt rules out a mortgage
-
Proportion of landlords experiencing arrears hits record low
Mortgage Advice Bureau and AI in the mortgage sector
Chief executive officer at Mortgage Advice Bureau, Peter Brodnicki, and founder and managing director at Heron Financial, Matt Coulson, joined content editor Dan McGrath to discuss how Mortgage Advice Bureau is using artificial intelligence to make advancements in the mortgage industry, the limitations of this technology and what 2026 will hold for the market
Perenna and the long-term fixed mortgage market
Content editor, Dan McGrath, spoke to head of product, proposition and distribution at Perenna, John Davison, to explore the long-term fixed mortgage market, the role that Perenna plays in this sector and the impact of the recent Autumn Budget
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories