Phoenix Group look to sell SunLife

No longer "core" to vision

Jaskeet Briah
clock • 1 min read

Long-term savings and retirement business, Phoenix Group, has announced that it will explore a potential sale of its SunLife business.

Following a strategic review, Phoenix Group said SunLife UK is no longer core to the delivery of its vision of becoming the UK's leading retirement savings and income business. Therefore, the board has decided to begin a sale process, with several initial expressions of interest having been received from third parties. SunLife provides protection products direct to the over 50s market in the UK and reported profit after tax of £16 million in 2023. The group said there can be no certainty at this stage that a disposal will occur and a further announcement will be made in due course....

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Individual Protection

Budget 26: Self-employed fathers and partners to be eligible for paid parental leave

Budget 26: Self-employed fathers and partners to be eligible for paid parental leave

Two weeks of support currently worth up to £194 a week

Jaskeet Briah
clock 28 October 2026 • 2 min read
Budget an opportunity to review IP and Universal Credit: iptf

Budget an opportunity to review IP and Universal Credit: iptf

Letter to PM Andy Burnham

Vicky Churcher
clock 26 October 2026 • 3 min read
UnderwriteMe releases Protection Platform Pulse report

UnderwriteMe releases Protection Platform Pulse report

Underwriting outcomes and consumer research

Cameron Roberts
clock 21 October 2026 • 2 min read