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...
Brings over 25 years’ experience
Staff can come in if they wish
After more than 33 years
Increased number of SMEs feel let down
Nicola Dryden, partnership director, steps down