Phoenix Group has laid down a proposal to acquire rival life insurer ReAssure Group in a £3.2bn deal
The deal would see the newly minted FTSE 100 constituent reach total assets under administration of £329bn and confirm it as Europe's largest pensions consolidator. The agreement as it stands would bring £84bn in assets under administration and some 4.1 million ReAssure policies under the Phoenix umbrella for its heritage business. Phoenix will also take over the operation of ReAssure's contract-based workplace pension provision, but would not immediately merge this, or the independent governance...
Chairman since 2015
From 6 January 2020
Due to Brexit
Main reason MSK