Business
Phoenix Group to explore the sale of SunLife
Phoenix Group to explore the sale of SunLife.
About this update from Standard Life Plc
[{"type":"text","content":"\n\n \nPhoenix Group Holdings plc\nLEI: 2138001P49OLAEU33T68\n \nPhoenix Group to explore the sale of SunLife\n \nThe Board of Phoenix Group Holdings plc (\"Phoenix Group\" or \"the Group\") is today announcing its intention to explore a potential sale of its SunLife Limited (\"SunLife\") business.\nSunLife is a leading provider of financial protection products direct to the over 50s market in the UK and reported profit after tax of £16 million in 2023.\nFollowing a strategic review, the Group has concluded that this business is no longer core to the delivery of its vision of becoming the UK's leading retirement savings and income business. The Board has therefore decided to begin a sale process, having received a number of initial expressions of interest from third parties. However, there can be no certainty at this stage that a disposal will occur.\nA further announcement will be made in due course as appropriate.\n\n\nEnquiries\nInvestors/analysts:\nClaire Hawkins, Director of Corporate Affairs and Investor Relations, Phoenix Group\n+44 (0)20 4559 3161\nAndrew Downey, Investor Relations Director, Phoenix Group\n+44 (0)20 4559 3145\nMedia:\nDouglas Campbell, Teneo\n+44 (0)7753 136 628\nShellie Wells, Corporate Communications Director, Phoenix Group\n+44 (0)20 4559 3031\n\n\nLegal Disclaimers\nThis announcement in relation to Phoenix Group Holdings plc and its subsidiaries (the 'Group') contains, and the Group may make other statements (verbal or otherwise) containing, forward-looking statements and other financial and/or statistical data about the Group's current plans, goals, ambitions, outlook, guidance and expectations relating to future financial condition, performance, results, strategy and/or objectives.\nStatements containing the words: 'believes', 'intends', 'will', 'may', 'should', 'expects', 'plans', 'aims', 'seeks', 'targets', 'continues' and 'anticipates' or other words of similar meaning are forward looking. Such forward-looking statements and other financial and/or statistical data involve risk and uncertainty because they relate to future events and circumstances that are beyond the Group's control. For example, certain insurance risk disclosures are dependent on the Group's choices about assumptions and models, which by their nature are estimates. As such, actual future gains and losses cou...