Phoenix Group Holdings (PHNX.L)
Fri, Apr 13 2018
* ANNOUNCEMENT OF RT1 ROADSHOW WITH CREDIT INVESTORS AND UPDATE ON STANDARD LIFE ASSURANCE ACQUISITION Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)
* SAYS PHOENIX GROUP TO INVEST IN CO'S OPERATIONS IN KENYA Source text for Eikon: Further company coverage:
Phoenix Group said it would not change tack and buy open books of insurance, following a recent deal to buy the majority of Standard Life Aberdeen's insurance business and become Europe's largest manager of books of mature business.
* FY operating profit 368 mln stg vs 351 mln stg (Adds CEO, finance director comments, details)
March 15 Insurer Phoenix Group Holdings reported higher operating profit and said it expects to achieve the top end its 1-1.2 billion pounds cash generation target range for the two-year period between 2017 and 2018.
* FY £653 MILLION OF CASH GENERATION 2 (2016: £486 MILLION)
LONDON Standard Life Aberdeen (SLA) has agreed to sell the bulk of its insurance business to Phoenix Group for 3.24 billion pounds ($4.5 billion), allowing it to focus on savings and investment products.
Feb 23 Phoenix Group on Friday said it would raise 950 million pounds ($1.32 billion) in a rights issue to finance the acquisition of Standard Life Aberdeen's European life insurance business for 2.93 billion pounds.
LONDON, Feb 23 Standard Life Aberdeen said on Friday it would sell an insurance division to Phoenix Group for 3.24 billion pounds ($4.51 billion), as it posted 2017 pretax profit of 1 billion pounds. "This transaction completes our transformation to a capital light investment business," Chairman Gerry Grimstone said in a statement, published alongside the company's first set of annual results since it formed last year through the 11 billion pound merger of two Scottish rivals.
* SALE OF INSURANCE BUSINESS AND ENHANCED LONG-TERM STRATEGIC PARTNERSHIP WITH PHOENIX GROUP