Phoenix Group look to sell SunLife

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....