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
Signup and gain exclusive members-only insights
- 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.
